It's look like that this pair has interesting agenda at 8pm (+8 GMT) before 1 hours New York open later. Market and economist widely expect that BoE to hold rates at 3.75% which will temporary strengthen the market. If the rates slightly increase for today report , it ll attract more investor to the country and we might can see the bullish movement of GU.
And if BoE express expresses neutral to slightly bearish which was keeping th 3.75% rates, GBP may weaken gradually as it might cut the rates later . In other sight , if its the result come with hawkish tone , we ll see GBP will pump up.
“We’re NOT comfortable cutting anytime soon.”
which means the rate cut will be pushed further into the future
Short-term vs medium-term impact
What we ll expected for GU today market :
-GBP bullish
-Buy-the-dip behavior
-Break of intraday highs more likely
-London session continuation common
For coming days market (Medium term) :
-GBP stays supported, not explosive
-More range expansion upward
-Less aggressive selling on pullbacks
-Strong against weak currencies (JPY, EUR)
-Mixed vs USD depending on Fed tone
This will be the FUNDAMENTAL analisis for "what if" the result from BoE Bank Rate later.
(all info and resources is from Mr. G)
LONDON OPEN GU CHART
Nothing interest to be trade for now , the market is still in bearish correction from HTF bullish movement . The news today might showing the market movement for GU today. Now , it is moving to 1h FVG area and if go down , it might just taking the liquidity before it start moving to the correct direction.