- GBP/USD gains traction eyeing1.36 level.
- BoE monetary policy decision due at 1200 GMT.
- GBP will be driven by Brexit headlines
GBP/USD TARGETS 1.36 LEVEL
GBP/USD eyes 1.36. Recent strength comes from growing optimism that the EU and the UK can reach a Brexit trade deal before the new year, when the transition period ends.
The pair is vulnerable headlines suggesting the gap between the two sides is narrowing or widening. Suggestions that there is still significant distance between the two could send GBP/USD back down to 1.35.
BOE MONETARY POLICY STATEMENT
The Bank of England rate announcement is the kay risk event today. No changes to monetary policy are expected..
GBP/USD is unlikely to be a concern to BoE given its lack of progress versus a basket of currencies of its major trading partners.
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