GBP/USD Technical Analysis: Gains Halted until BoE

Sterling started August trading with solid gains against both the euro and the dollar, but the risks fall later this week if the Bank of England holds back a 25 basis point rate hike on Thursday. The GBP/USD pair succeeded in rebounding higher with gains to the 1.2293 level, then returned amid selling operations to stabilize around the 1.2135 support level at the time of writing the analysis.

Michael Cooper

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