bank of england

BoE triggers long GBPUSD opportunities

Two members of the BoE voted towards a rate hike indicated confidence in the UK’s progress. This is a good indicator of changing sentiment as other members did not vote for the rate hike solely based protecting growth targets and stress proofing the economy. Whilst the USD has received support due to housing and permit numbers the underlying improving UK economy will see the GBP gaining strength. The GBP is currently trading at 1.6580 and is bouncing off the April low of 1.6566 and long opportunities are available here anywhere below 1.66.

We are bullish currently on the GBPUSD rate.

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