GBP/USD created a bullish outside-day candle on Thursday as Bank of England (BOE) Chief Economist called for a rate hike. A close today above 1.3270 would confirm a bullish outside-day reversal or a short-term bearish-to-bullish trend change. The GBP/USD rose to 1.3270 on Thursday, engulfing the price action seen on Wednesday after the BOE Chief Economist Andy Haldane unexpectedly joined rate hike camp. At press time, the pair is trading at 1.3264. Haldane turned hawkish for the first time since joining the monetary policy committee four years ago and that has boosted the odds of a 25 basis point rate hike in August. So, the GBP will likely remain bid. Further, the rumors of US-China trade talks could stabilize the risk sentiment in the European and US stocks and the resulting rise in GBP/JPY will likely push GBP/USD higher. Thus, GBP/USD may close today above 1.3270, confirming a short-term bearish-to-bullish trend change. The only risk to the British Pound stems from the 10-year US-UK bond yield spread, which continues to rise in the USD-positive manner despite Haldane’s hawkish vote. GBP/USD Technical Levels Resistance: 1.3274 (10-day MA), 1.3319 (4H 100MA), 1.3385 (4H 200MA). Support: 1.3211 (support on 4-hour chart), 1.3146 (June 20 low), 1.3102 (previous day’s low). 10-year US-UK yield spread FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin price analysis: BTC/USD under pressure, but Fundstrat’s experts believe the worst is over FX Street 5 years GBP/USD created a bullish outside-day candle on Thursday as Bank of England (BOE) Chief Economist called for a rate hike. A close today above 1.3270 would confirm a bullish outside-day reversal or a short-term bearish-to-bullish trend change. The GBP/USD rose to 1.3270 on Thursday, engulfing the price action seen on Wednesday after the BOE Chief Economist Andy Haldane unexpectedly joined rate hike camp. At press time, the pair is trading at 1.3264. Haldane turned hawkish for the first time since joining the monetary policy committee four years ago and that has boosted the odds of a 25 basis point rate… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.