GBP #USD BoE policy meeting poses hurdle to continued #GBP rally MUFG
http://ntvforex.com/news/?id=325cd2. . 5 minutes ago . By Matías Salord . . . Analysts at MUFG Bank warn about chasing the pound higher ahead of key event risk posed by the upcoming Bank of England monetary policy meeting, and with the #GBP #USD pair becoming heavily overbought against the USD. . Key Quotes . The #GBP has become heavily overbought against the #USD suggesting caution in continuing to chase cable higher in the near term. However, the #GBP s recent performance on a trade weighted basis has been less impressive as it remains around 1.7% lower than in late April. . Market participants will be closely scrutinizing the BoE s upcoming policy meeting on Thursday for a fresh #GBP catalyst. The BoE is expected to maintai…

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