The price of the British pound continues to consolidate above the lower limit of the local rising channel. Reduction in the volatility is explained by the desire of traders to get a signal from the Bank of England concerning further monetary policy of regulator. We recall that decision of the Bank of England on interest-rate and volume of asset purchases will be published on Thursday at 12:00 GMT. We do not expect the bank's policy review due to the fact that, despite the steady growth of the economy still remain risks of deceleration.
Today will be published data on the index of business activity in the service sector of Great Britain (09:30 GMT), but the influence of this indicator will be negligible. Despite the reduction of quantitative easing program in the U.S. and the forecast of strengthening of the U.S. dollar, we maintain our positive outlook on the price of the British pound.
Wish you the profits!
FXFINPRO Capital Analytical department.