The pair remains between 1.38715 and 1.38569 or 85 pips
As the press conference continues with BOE Bailey (and Ramsden), the GBPUSD remains near the middle of the very narrow 85 pip trading range that as confined the pair this week.
The low was reached earlier today at 1.38715. That took out the swing low from Monday at 1.3874. The high reached 1.39569 during yesterday’s trade. The high price today reached 1.39455 on headlines from the rate decision. The current price is trading at 1.3906.
Looking at the hourly chart, the pair trades between the 200 hour moving average below at 1.38936 and the 100 day moving average of 1.39194.That is the neutral area for the trading bias from a technical perspective.
A move below the 200 hour moving average would tilt the bias more to the downside, whereas a move back above the 100 day moving average at 1.39194 would be more bullish.