GBP/USD: forecast for May 8-12

In the coming days, don’t miss British manufacturing production on Tuesday. In addition, traders await Super Thursday – the day when the Bank of England delivers not only its policy decision, but also the Inflation Report, which contains updated growth and inflation forecasts. Officials are expected to keep their benchmark interest rate steady at 25 basis points, but traders will be eager to find out whether the central bank’s view on British economic outlook has improved. If it did, the pound will get new bullish drivers. If it doesn’t, the sterling will decline. 


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FOMC Meeting, Gold Plunge, and Pound Decrease | Market News
FOMC Meeting, Gold Plunge, and Pound Decrease | Market News

Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.

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