GBP/USD: Steady with the bulls on hike sentiment – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that the British Pound has managed to advance beyond the 1.5600 level against its American rival, as any of dollar strength is being related to the chances of an upcoming rate hike, and ever since some of the MPC members have suggested that a rate hike in the UK is coming closer, Pound’s strength has equal dollar’s one.

Key Quotes:

“During the next week, the BOE will have its monthly economic meeting, and the Minutes will be released alongside, and not two-weeks later as it was until last month. Expectations are for some MCP members voting for a rate hike, which should boost the Pound. In the meantime, the 4 hours chart shows that the price is above its 20 SMA, and above the 200 EMA, this last, flat around 1.5560”
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Source:: FX Street