GBP/USD Outlook (7 November 2019)

Overall, GBP/USD is trending upwards and has been ranging across recently.
The Bank of England (BoE) will be announcing their interest rate decision at 2000 (SGT).
It is widely forecasted that the BoE will keep interest rate unchanged at 0.75% due to the ongoing of Brexit.
Since the last BoE meeting, progress has been made in Brexit. Look into the monetary policy summary for possible monetary policy plans the BoE may have.
The BoE will also be holding a press conference at 2030 (SGT). Volatility is expected of GBP pairs.
GBP/USD’s next support level is at 1.27400 and the next resistance level is at 1.29800.