Bank of England’s Bailey is on the speaking circuit today after the central bank kept rates unchanged. His most recent comments have him saying:
- Good news at inflation in the UK is coming down.
- Bank of England has to stay the course on the inflation fight.
- He will predict what happens next on interest rates.
- Some on the Monetary Policy Committee say more hikes needed to curb prices
- There are strong views on MPC about inflation outlook
The GBPUSD has been building off of the low near 1.2227 and currently trades above and below the 1.2300 level. On the topside there is resistance at 1.2308 up to 1.2314. If the sellers are to remain in control, staying below those levels is required. See GBPUSD technical analysis post here outlining the key levels.
This article was written by Greg Michalowski at www.forexlive.com. Source