The pound sterling continued to post declines into Friday’s close. This came as the Bank of England left interest rates unchanged. But, interestingly, there were two dissenting votes in favor of rising rates.
Many believe that the BoE could raise rates if the Brexit uncertainty eases. The UK will be heading to polls in just under a month’s time.
GBP/USD Could Extend Declines Further
The cable could push lower in the coming weeks. This comes after the BoE meeting managed to push the GBPUSD out of the range.
The downside breakout also confirms the topping pattern above 1.2865. The declines could now see the GBPUSD falling to levels near 1.2582 eventually.
