Pound was deceived. Forecast as of 10.08.2023

The BoE was expected to hike the rate to 6.5%. However, the forecasts for the bank rate have been down to 5.5-5.75%. The GBPUSD drop in August looks natural, but the pound bulls still have hope. Let us discuss the Forex outlook and make up a GBPUSD trading plan.

Pound fundamental forecast today

Although speculators used to buy the pound betting on the BoE interest rate potential growth to 6.5%, the GBPUSD failed to continue the rally. The UK weak economy can’t afford a strong currency, and the GBPUSD trend could turn down soon unless there is a lucky chance…. Read full author’s opinion and review in blog of #LiteFinance