Looking at the British Pound currencies prior to the rate announcement this morning at 7am is the topic of this video. Overall, it looks like the GBPUSD and GBPJPY will go up and the EURGBP will fall. However, anything can happen during these rate announcements which is why I use the binary options to limit risk.
Looking at British Pound Charts
The three currencies that will be most affected during the rate announcement this morning are:
From the looks of the chart, the GBPUSD and GBPJPY are likely to go up and the EURGBP will likely go down. However, anything can happen during these releases which is why I limit my risk using binary options.
The EURGBP is forming a reversal bar on both the 60 and 240 minute chart to the downside and with the weekly overbought at the moment, it looks like the EURGBP will go down.
The GBPUSD is at an area of support on the weekly, which has also formed on the 60 minute chart and the Stochastics is oversold on both the daily and weekly charts. I would anticipate a potential move to the upside on the GBPUSD.
The GBPJPY is oversold on the daily but may need to retrace on the 240 prior to the rate announcement. There is a support area directly under price on the weekly chart as well.
Remember anything can happen on the British Pound currencies after the rate announcement so limit risk using binary options.