Ladt week the Bank of England left rates unchanged:
ForexLive European FX news wrap: BOE hold rates
Nomura says GBP could rise even further now:
“There appears to be little appetite on the Monetary Policy Committee to rush into rate cuts,” rate-cut expectations appear excessive and are likely to be unwoundthis should benefit sterling
GBP should also catch a tailwind from
improving global risk appetite many other central banks being likely to cut rates faster than the BOE
Daily candles:
I stuck in a horizontal line on a ‘resistance becoming support’ basis. I am certain traders out there could do better t/a than me here – comments welcome!
This article was written by Eamonn Sheridan at www.forexlive.com.
