# GBP/USD:  BoE policy meeting poses hurdle to continued GBP rally – MUFG — Octa

> MUFG analysts warned against chasing sterling higher ahead of the Bank of England policy meeting, noting GBP/USD had become heavily overbought. They expect the BoE to hold rates but signal further easing, possibly more QE or negative rates, later in the year.

- Date: 2020-07-31 · published 2020-07-31T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/52357-gbp-usd-boe-policy-meeting-poses-hurdle-to-continued-gbp-rally-mufg-octa
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Expected BoE easing and an overbought pound raise the risk of a pullback in GBP/USD, which matters for UK-linked import costs and sterling-denominated feed pricing.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/839944/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.