GBPUSD extends the recent fall after the BOE decision, the Bank of England raised its Bank Rate by 75bps to 3%. The focus will also turn to the NFP report on Friday, which should prompt even more volatility.
Technically the current price action signals suggest that the medium-term bearish trend remains intact. On the downside, the decline is more extensive, and it will be hard to rule out a run towards 1.1050/00 and 1.0950. if the bearish momentum continues. On the flip side, the first resistance is located around 1.1280, a break above this level will confirm a possible move to 1.1340 and 1.1400.
