The GBP/USD currency pair

• Prev Open: 1.28883
• Open: 1.29654
• % chg. over the last day:  0.61
• Day's range: 1.28440 – 1.28635
• 52 wk range: 1.1409 – 1.3516

During yesterday's trading session, GBP/USD quotes increased. EU officials said that the chances of a trade deal with the UK were diminishing by the day as the British government pushed for an internal market law that would violate all terms of the UK's exit agreements. The Bank of England meeting, during which a decision on the key interest rate will be made, is in the spotlight. At the moment, the key support and resistance levels are 1.2930 and 1.3000, respectively. Positions should be opened from these levels. We recommend following up-to-date news from the UK.

• - The Bank of England interest rate decision at 14:00 (GMT 3:00).

Indicators point to the power of buyers: the price is being traded above 50 MA and 100 MA.

The MACD histogram is near the 0 mark. There are no accurate signals.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates the bullish sentiment.

• Support levels: 1.2930, 1.2870, 1.2800
• Resistance levels: 1.3000, 1.3070, 1.3150

If the price fixes above the round level of 1.3000, further growth in GBP/USD quotes is expected. The movement is tending to 1.3070-1.3100.

If the price fixes below the key support level of 1.2930, GBP/USD quotes are expected to decline to 1.2870-1.2850.