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Some important news event lined up for tomorrow from U.K. and as such plenty of volatility is expected in GBPUSD. The current trend on GBPUSD remain bullish, however heavy news event like these could turn the table around and may trigger change in sentiment.
First we have Services PMI report, we have seen stable numbers in March & April 2017, however May & June we have seen slowdown in business activity growth. In July analysts expected another subdued numbers as such some bearish price action is expected after this news event.
Therafter, we have BOE Inflation Report, analysts are expecting inflation to remain below expectations, similar to last time where inflation number eased to 2.6% from 2.9%.
The final news event is BOE Interest rate decision, Monetary Policy Summary and Press Conference by BOE Governor. Analysts expect interest rate to remain unchanged, but it would be interesting to see whether BOE remain hawkish or dovish about future growth and if there is any hint of interest rate rise in near future.
First we have Services PMI report, we have seen stable numbers in March & April 2017, however May & June we have seen slowdown in business activity growth. In July analysts expected another subdued numbers as such some bearish price action is expected after this news event.
Therafter, we have BOE Inflation Report, analysts are expecting inflation to remain below expectations, similar to last time where inflation number eased to 2.6% from 2.9%.
The final news event is BOE Interest rate decision, Monetary Policy Summary and Press Conference by BOE Governor. Analysts expect interest rate to remain unchanged, but it would be interesting to see whether BOE remain hawkish or dovish about future growth and if there is any hint of interest rate rise in near future.
