Even though in the beginning of our day we decided to fixate on EUR/USD couple, there is another couple that demands just as much of our attention today for all the same reasons, if not more of them. GBP/USD demands more attention because today is very important for the couple. For the first time since Brexit delay we were going to be exposed to as much information and insight into the British economy as today. And it surely called for more of the fuss.

And be sure, the couple did everything to attract our attention even if we were not ready to give it.

BOE Monetary Policy Report – an outlook into the banks’ views into the state and perspective of British national economy;

MPC Official Bank Rate Vote – vote on the future of interest rates of GBP;

Monetary Policy Summary – the summary of the report and subsequent vote;

Speech by BOE Gov Carney – summarizing speech, during which Carney is expected to drop clues as to the future of the monetary policies of the country.

It seems that the combinations of these four have become the reason for the recent, rather rapid decline in the performance of GBP/USD. After all Carney did report that the situation in the national economy is far more difficult than was previously expected and that Brexit took quite a toll on the currency. That is not really reassuring, hence the fall.

Not the most pleasant situation we could have ended up in. But, we still have to deal with it. If you are not sure that you can manage alone, then use our trading signals along the way.