GBP/USD Technical Analysis: GBP Future Depends on BoE

The recent selling operations witnessed by the GBP/USD currency pair stopped at the support level of 1.2100, bouncing back from the resistance level of 1.2293 and settled around the level of 1.2145 in the beginning of trading today, Thursday. Ahead of the most important event for the sterling pairs, which is the monetary policy decisions of the Bank of England, followed by the next most important event, which is the US jobs numbers on Friday. This will have an impact on the market expectations of the future of raising US interest rates. Barclays forex analysts say sterling is likely to head lower after Thursday’s BoE update, but Goldman Sachs is more positive regarding the outlook for the British currency, especially against the euro.

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