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  1. #1
    Specialist Member LesterK's Avatar

    Hot BoE Interest Rate Decision is kept the same! !!!

    Hi guys. The British Interest Rate is again left at 0.5%. The overal trading is bullish for the moment but keep an eyes on the price action as it could easily turn if the press conference after the anouncement give some bearish sign! Watch it now!

  2. #2
    Veteran Member uj.forex's Avatar
    Lester, even though England avoided triple dip recession, could u tell us why the investors are still bearish on the GBP USD pair ?

  3. #3
    Specialist Member LesterK's Avatar
    Quote Originally Posted by uj.forex View Post
    Lester, even though England avoided triple dip recession, could u tell us why the investors are still bearish on the GBP USD pair ?
    It is not the GBP alone responsible for that bearish movement but the whole strength in US dollar, last few weeks. It is also visible on the other majors, like EUR/USD, USD/JPY and AUD/USD, and also with the precious metals. If this sentiment finished the British Pound will strongly bounce back higher as the British economy is really improving and have good perspectives in the future!

  4. #4
    Veteran Member uj.forex's Avatar
    but yesterday's bearish rally was solely based on the bad fundamental data for U.K that was released.... which extended the downward rally till 1.5110....

  5. #5
    Specialist Member LesterK's Avatar
    You are right uj, the movement continuation downward is really strong and the bad information is supporting it. Probably the GBP won’t recover as fast as I thought initially.

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