BoE minutes set to be released

<p>In the UK today the votes are in for the interest rate and the QE, no changes are expected here with 9-0 to keep rates […]</p>

In the UK today the votes are in for the interest rate and the QE, no changes are expected here with 9-0 to keep rates unchanged and 9-0 with keeping QE unchanged. This will have little effect in the pound’s trading unless we have a surprise turn.

Cable started the week on a downward trend falling from 1.4950 to 1.4850 and initially looked like it would give back a lot of last week’s gains, but this turned around yesterday afternoon as it hit a bid tone and rallied back up to 1.4950 where we sit now. Not much in this rally but a softer dollar was the key as it weakened against most of the majors.



 1.0670-1.0600-1.0550 | Resistance 1.0790-1.0850-1.0915



119.25-118.83-118.50 | Resistance 119.95-120.25-120.70



Supports 1.4860-1.4800-1.4745 | Resistance 1.4980-1.5030-1.5100

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.