GBP/USD Forex Signal: Drop to 1.200 Likely Ahead of BoE Decision

Ethan Andrews 4 sierpnia, 2022 in Forex Tagged BOE, GBp, NFP, USD - 0 Minutes

Bearish View

Sell the GBP/USD pair and set a take-profit at 1.2000.
Add a stop-loss at 1.2230.
Timeline: 1-2 days.

Bullish View

Set a buy-stop at 1.2200 and a take-profit at 1.2300.
Add a stop-loss at 1.2100.

The GBP/USD price remained under pressure during the Asian session as investors waited for the upcoming Bank of England (BoE) decision and US non-farm payrolls (NFP) data. It is trading at 1.2152, which is a few points below this week’s high of 1.2292.