GBP/USD bouncing off 1.2500 for further upside?
BoE meeting next week with an anticipate rate increase from 0.75% to 1.00% this could limit further downside to the GBP/USD
However, because the BoE meeting follows the FOMC meeting on Thursday, expect signficant volatility in the GBP/USD and another test of the 1.2500 support level.
If the BoE surprises with 50basis point increase, we can see GBP/USD move higher to test the 1.2750 resistance level.
BoE meeting next week with an anticipate rate increase from 0.75% to 1.00% this could limit further downside to the GBP/USD
However, because the BoE meeting follows the FOMC meeting on Thursday, expect signficant volatility in the GBP/USD and another test of the 1.2500 support level.
If the BoE surprises with 50basis point increase, we can see GBP/USD move higher to test the 1.2750 resistance level.
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