gbp/usd analysis for 10 july 2015 (daily forex analysis)

The pair kept the composure after the BoE once again left its monetary policy unchanged at today’s meeting, with the refi rate at 0.5% and the asset purchase facility at £375 billion, broadly in line with market expectations.The British pound keeps range below 1.54 handle versus the US dollar in the mid-European trades, with GBP/USD striving for 1.5400. The cable consolidates to the upside despite broad based US dollar strength, in an attempt to recuperate from the sell-off seen earlier this week, while markets now await fresh cues from the upcoming Bank of England’s (BOE) rate decision.Markets now focus on the Bank of England’s (BOE) rate and QE announcement later today. It is very likely the central bank will leave its monetary policy stance unchanged in July – the base rate will stay at the record low of 0.5% and the QE volume at £375 billion. Data on UK industrial and manufacturing output, often secondary to that on the services sector in an economy which relies heavily on financial and other services for growth, were mixed, giving markets little new to play on in the debate on when the Bank of England could raise interest rates.
Another signal on the UK economy, and whether Britain’s central bank might move this year or early next year, may come from the latest update from the National Institute of Economic and Social Research, an independent think-tank, on its forecasts for gross domestic product due later on Tuesday.
Currency investors are awaiting a budget statement from the British finance minister George Osborne on Wednesday, who is widely expected to cut welfare spending by 12 billion pounds. Traders said any tightening could push back expectations of British interest rate hikes and weigh on the pound.
fundamental long term is bearish
so the recomendation for gbp/usd is bearish.we will waiting for technical sell and ignore buying signal for gbp/usd