GBP/USD: likely to fall into the close of the week? - FXStreet

Analysts at Valeria Bednarik explained that the GBP/USD pair rallied up to 1.3476, the highest for this July, after the Bank of England surprised markets by leaving its economic policy on hold.

Key Quotes:

"Within the Minutes, Carney suggested that easing will come in the August meeting, when the Bank will have an updated economic perspective and the latest Quarterly Inflation Report."

"Only one of the nine MPC members voted in favor of a rate cut, whilst all of them were in favor of leaving the APP unchanged at £375B."

"The pair retreated fast from the mentioned high, but settled in the 1.3360 region, later falling to current 1.3300 region on the back of strong US data. Despite edging higher on the day, the pair is still unable to settle above the 23.6% retracement of the post-Brexit slide, and the short term picture suggests that the pair may continue falling this Friday."