GBP/USD Outlook (25 June 2021)

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GBP/USD Outlook (25 June 2021)

ByJin Dao Tai

 JUN 25, 2021

GBP/USD Outlook (25 June 2021)

Overall, GBP/USD is trending downwards. Recently, GBP/USD bounced off the resistance zone of 1.40000.

During the monetary policy meeting yesterday, the Bank of England (BoE) held monetary policy unchanged. This led to a slight disappointment as the market was expecting the central bank to strike a hawkish tone on QE tapering.

GBP/USD’s next support zone is at 1.38000 and the next resistance zone is at 1.40000.

Look for short-term selling opportunities of GBP/USD only after it breaks below the key level of 1.39.

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