GBP/USD Forex Signal: Sterling Set to Cruise to 1.2300 Ahead of BOE

Bullish View

  • Buy the GBP/USD pair and set a take-profit at 1.2300.
  • Add a stop-loss at 1.2050.
  • Timeline: 1-2 days.

Bearish View

  • Set a sell-stop at 1.2130 and a take-profit at 1.2050.
  • Add a stop-loss at 1.2250.

The GBP/USD price made a bullish breakout as investors reflected on last week’s Federal Reserve decision and the upcoming Bank of England (BoE) meeting. The pair rose to a high of 1.2230, which was the highest point since June 28th of this year. It has risen by about 3.60% from the lowest level this year.

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