GBP Ideas

Looking at the daily we can see that the bearish 'death cross' of the 50 period ema crossing the 200 period ema took place in late December.

We are also not far from some major fib retracement levels where I expect to see resistance with the 38% at 2.0031 and the 50% at 2.024.

BOE will announce their interest rate decision this week - the market is expecting rates to be lowered by 25bp. The economy has been suffering with a weakening housing market - I'm expecting negative fundamental data to put pressure on the GBP near term...