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GBP/USD Forecast: Eyes UK PMI, Bulls still have a hope

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The British Pound received a beating that pushed the cable to a low of 1.4150. Markets punished Pound since BOJ’s negative rates is expected to trigger another round of currency wars/race to negative rates across the advanced world. That also means the Bank of England (BOE) would be under pressure to cut rates rather than hike. Even the derivative markets hint at a chance of a BOE rate cut now. Do not be surprised if the marginal change turns into a significant in next six months or so. UK PMI

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