With no change expected with either the pressure woes with whether there could be possible talk of increase of QE with BoE

<p>EUR/USD Range: 1.4051 – 1.4100 Support: 1.4050 Resistance:1.4100 Euro-dollar closed in NY at 1.4097, The rate managed to mark overnight highs at 1.40992 in early […]</p>

EURUSD
EUR/USD
Range: 1.4051 – 1.4100
Support: 1.4050
Resistance:1.4100
Euro-dollar closed in NY at 1.4097, The rate managed to mark overnight highs at 1.40992 in early trade before turning lower again, the rate slipping through the main part of the early session in a described orderly way as risk was pared back.. Rate squeezed to a low of 1.40503 before meeting decent demand interest. Recovery met fresh sell interest at 1.4070 which capped, with rate trading around 1.4060 into early Europe. Support said to remain in place between 1.4050/40, a break of 1.4034 to open 1.4012. Offers toward 1.4100, more into 1.4125 with stops above.
GBPUSD
GBP/USD
Range: 1.5934 – 1.5993
Support: 1.5936
Resistance 1.6025
Sterling closed in NY at 1.5990, the rate having recovered off lows of 1.5919 to 1.5995. Cable was easing off those highs in the NY/Asia cross over, able to mark early highs at 1.5992 before resuming its corrective pullback through the overnight session, the rate squeezing to a low of 1.5948, with rate extending to 1.5936 into early Europe. Sterling has been trading with an underlying soft tone as markets adjust positions ahead of today’s BOE rate announcement, with some suggesting an increase in QE could be announced today. Bids now seen at 1.5936, more at 1.5920 and stronger 1.5906/00. Offers in place around 1.6025.
Gold
Range: 1,813.88-1,845.70
Support: 1.793.00
Resistance: 1,851.00

 

Gold lost its shine yesterday falling sharply from Asian highs of around 1,897.00. The move initiated just as London opened with a quick fall from around 1,871.00 to 1,817.00 on a rumour of a potential margin hike. The talk proved to be groundless and attributed to a technical correction which triggered a raft of stops. Dip buyers emerged to pull the price back up around 1,851.00, but the metal continued to be weighed down. NY then joined the push lower sending the metal to 1,793.00 before a weak close around 1,817.60. Asian markets have led a small recovery this morning with Gold rising to 1,844.00 before settling around 1,835.00. Support is now pitched towards 1,793.00 and 1,775.00 with resistance towards 1,851.00 and 1,880.00
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