Pick of the Day: GBP/USD

Tomorrow morning at 4:30 am EST, we have the Bank of England Meeting Minutes being released. The housing sector in the UK looks to still be on a rise, in which will play heavily in to future rate decisions from the Bank of England. So, what will the language and tone sound like in tomorrow’s release?? Who knows, but the GBP/USD pair is consolidating as traders wait for the Meeting Minutes tomorrow morning. So, let’s see if we can catch a breakout tomorrow. Remember that the FOMC Interest Rate Statement is tomorrow at 2:15 pm EST, so we will adjust/close all positions and orders before then at 12:00 pm EST.

  • Long GBP/USD at 1.8860, stop at 1.8840, pt1 at 1.8880, pt2 at 1.8940

  • Short GBP/USD at 1.8790, stop at 1.8810, pt1 at 1.8770, pt2 at 1.8700

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