GBP: Rally paused ahead of BOE – DBS

DBS Bank's Group Research report, authored by Philip Wee, highlights that GBP/USD is expected to maintain a dovish bias within a specified range as the market awaits the Bank of England's upcoming meeting. The report indicates that the bank rate is likely to remain unchanged, and future easing decisions will be data-dependent, reflecting cautious sentiment in the market.

Market awaits BOE meeting outcome

"GBP/USD should hold a dovish bias within a 1.36-1.3730 range this week."

"Focus should return to the Bank of England meeting on February 5, where the bank rate is expected to remain unchanged at 3.75%, near the estimated neutral rate range of 3.25-3.50%."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)