The sterling pound (GBP) also enters Tuesday’s na session without changes against the US dollar (USD) and trapped inside a flat channel at the upper end of its long -term range, says the head of FX Strategy of Scotiabank, Shaun Osborne.
Short -term support is around 1,3250
“The culminating point of this week’s data will be the IPC publication of the month of April on Wednesday, with expectations of a significant increase in the general index and a moderate increase in the nucleus.”
“The publication is unlikely to change the short -term expectations for the BOE, where the rates are expected to remain unchanged for the next meeting in June. August is currently valued at 18 basic points, with September completely valued for a cut of 25 basic points.”
“The price action of the GBP/USD continues to be defined by the flat range between the minimum of mid May in the middle of 1.31 and the maximum of end of April in the middle of 1.34. The impulse is neutral and we seek short -term support around 1,3250.”
Source: Fx Street
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