The Bank of England meeting brought no real surprises apart from the voting results. Markets expected an 8-1 decision to keep rates unchanged, but it turned out 7-2. This slight shift has pushed expectations for the first rate cut to November. At the same time, sentiment is growing that the Fed may not deliver two cuts before the end of the year, leaving the BoE ahead in the easing cycle.
On the daily chart, GBP/USD is close to breaking below support at 1.3525, which aligns with the MACD line. The Marlin oscillator is also preparing to enter bearish territory and looks ready to slip under its own range support. If the pair and oscillator confirm this move together, it could trigger stronger downward momentum. The next target zone would be 1.3364–1.3395, with the upper boundary marked by the weekly MACD line.
On the four-hour chart, the pair is already trading below the MACD line, while the Marlin oscillator is sinking deeper into negative levels. Both signals point to a bearish short-term outlook.
