British Pound

Pound Gains Capped from Comments from Andrew Bailey

GBP/USD Hourly (H1) Chart
GBPUSD Hourly (H1) Chart

GBP/USD: The pair scales fresh weekly highs above 1.29 handle and is on the way to scale the 1.295 handle over broad-based USD’s weakness. But comments from Andrew Bailey the successor to Carney stating more data is needed before taking stimulus measures capped gains. Traders now await BOE Carney’s speech later in the day for more clarity on the exact stance of BOE over virus outbreak support measures, and clues from his speech will decide the directional bias of GBP. 

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