• The Bank of England maintains its monetary policy and remains unchanged
  • GBP/USD is neutral but bullish leaning, sellers wait around 1.4000
The GBPUSD Forex pair is currently returning to the level of 1.3900, as the GBPUSD daily analysis article was written by the GIC team, the pair is trading at 1.3920. The announcement of the Bank of England's decision on monetary policy moved the pound slightly. As expected, the Bank of England left the benchmark interest rate unchanged at 0.1%. Policymakers have predicted inflation could rise to 4% by the end of the year, but it is still not a complete evidence, still temporary. This indicates that there will be some monetary tightening policies needed over the next few years. The GBPUSD pair itself continues to move up and down after the announcement from the BOE. The UK will not publish macroeconomic data on Friday. The country has also reported about 30,00 cases of the Delta variant of the Covid-19 virus, although there is no pressure on the health system and the number of deaths continues to decrease.

How to Daily Analysis of GBPUSD 

In general, although GBPUSD is bouncing upwards, the daily bias of the GBPUSD movement appears to be in a sideways condition and if you look at the price is in a correction phase around the critical area. If the GBPUSD movement is held around the critical area in the range of 1.39203-1.39022 then wait for the appearance of a valid bullish candlestick pattern by also paying attention to the ADX indicator above the 25 level because there is a potential for the GBPUSD price to move bullish upwards again towards the level of 1.29708. On the other hand, be aware that if the GBPUSD price continues to move downward and break through the level of 1.39022, then there is a potential for the price to reverse direction by moving bearishly downwards towards the next level in the range of 1.38729. That's the daily analysis of GBPUSD today, you can also read articles and other analyses in the GIC Journal such as how to learn forex for beginners. Also participate in GIC events that can help you in trading such as NFP Live Trading. Not only that, but you can also enjoy videos that can help you in Premium Content videos as well.