FXstreet.com (Barcelona) - The pair can’t find further traction to break above the 0.8045/50 region so far, retreating as of writing to the 0.8030/35 area.
Volatility in the pair would mostly hinge on GBP price action on Wednesday, as the BoE will publish its minutes. Recall that the central bank left unchanged both the refi rate and the asset purchase programme in its last monetary policy meeting at 0.5% and £375 billion, respectively, however recent uptick in UK inflation would keep market participants focused on the statement.
The pair is now flat at 0.8030 with the next resistance at 0.8114 (high Sep.14) ahead of 0.8144 (MA200d) then 0.8163 (high Jun.11) and 0.8198 (high May 1).
On the other hand, a violation of 0.8008 (MA10d) would bring 0.7995 (low Sep.13) and 0.7967 (low Sep.11).
Volatility in the pair would mostly hinge on GBP price action on Wednesday, as the BoE will publish its minutes. Recall that the central bank left unchanged both the refi rate and the asset purchase programme in its last monetary policy meeting at 0.5% and £375 billion, respectively, however recent uptick in UK inflation would keep market participants focused on the statement.
The pair is now flat at 0.8030 with the next resistance at 0.8114 (high Sep.14) ahead of 0.8144 (MA200d) then 0.8163 (high Jun.11) and 0.8198 (high May 1).
On the other hand, a violation of 0.8008 (MA10d) would bring 0.7995 (low Sep.13) and 0.7967 (low Sep.11).
