BOE Greens:
- We are not sure if weakness in UK economy is caused by demand or supply
- She is more worried about supply, really week productivity growth.
- There are concerns about impact of the government budget changes.
- We have no idea what US tariffs will look like when the dust settles.
Uncertainty prevails from BOE’s Greene
Looking at the price action in the GBPUSD, the price remains between its 200-hour moving average below at 1.32946, and it’s 100 hour moving average above at 1.3323. The price over the last few days has seen extensions above and below those moving averages, but momentum has faded and the price action reversed. Traders will be looking for a break with further momentum (i.e. taking out previous lows or previous highs).
This article was written by Greg Michalowski at www.forexlive.com.
