Trading signals



The US dollar gained momentum and erased a good portion of its recent losses on Monday. Meanwhile, traders are awaitng for the BoE's meeting, although, we do not expect any surprise there.


The main scenario is a return to the 1.2940-1.2930 area and a bounce off it. 

An alternative scenario is a further decline towards the 1.2800 level.


Trading recommendations


Wait until the GBP/USD pair returns to the 1.2940-1.2930 area and start selling towards 1.2850.

Sell the pound towards 1.2800 if sellers regain 1.2850.


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