250 Pip Drop against Dollar
The Pound Sterling nose dived from 1.900 to 1.7500 in minutes as the BOE released a report that indicates lower interest rates may be coming soon. Currently the BOE is holding rates at 5% and has plenty of room to cut - just to gain parity to the ECB’s rate.
GBP - USD 1 Minutes Chart 250 Pip Drop (click to enlarge) Dramatic example of Scheduled News Events effects on currencies.
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Hi,
Do you expect any bounce in GBP above 1.90 again… or looking towards 1.80 levels this month
regards
krishna