GBPUSD Key levels ahead of BoE rate decisionBRITISH POUND VS US DOLLARTRADENATION:GBPUSDTradeNationMain focus: BoE decision and US labour data - UK: The BoE interest-rate decision is the key event for GBP today. A hawkish BoE could support the pound, while a dovish decision or weaker guidance could push GBP lower. - US: Productivity, unit labour costs and initial jobless claims will influence expectations for the Fed. Strong US data could support the dollar and pressure GBP/USD, while weaker data could weaken USD. - Fed: Speeches from Hammack and Barkin could add volatility, particularly if they comment on interest rates and inflation. - Europe: ECB speeches and European economic data are less important for GBP/USD but could influence overall dollar and risk sentiment. - Market sentiment: The large earnings calendar could create additional risk-on/risk-off moves, affecting demand for GBP and USD. GBP/USD Trading Conclusion GBP/USD is likely to remain volatile today, with the BoE decision the main catalyst. - Bullish GBP/USD: Dovish US data + hawkish BoE → potential move higher. - Bearish GBP/USD: Strong US labour/inflation data + dovish BoE → potential move lower. - Key strategy: Avoid chasing the initial move around the BoE announcement. Look for a breakout followed by confirmation before entering. Overall bias: Neutral before the BoE, with direction likely determined by the BoE decision and the reaction in US yields and the dollar. Key Support and Resistance Levels Resistance Level 1: 1.3527 Resistance Level 2: 1.3563 Resistance Level 3: 1.3620 Support Level 1: 1.3390 Support Level 2: 1.3343 Support Level 3: 1.3295 The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. To the extent permitted by law, in no event shall Trade Nation (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk. Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Financial Spread Bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.7% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.