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GBPUSD Rebounds On BoE Rate Cut

Posted On 20 Mar 2020
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The Bank of England cut interest rates in a move to combat the coronavirus pandemic.

GBPUSD price action is rebounding off the 1.4898 level. If this bottom forms, we expect the upside near 1.2000 to be tested in the near term.

The Stochastics oscillator remains at the oversold level for the moment, so we could see some consolidation to continue.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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