GBP continued its spiral, touching a three week low as the BOE quarterly inflation report showed a downward revision of growth although Inflation will remain above the comfort band for the following two years. The central bank effectively put markets on warning for a period of stagflation.
tech view
pound is expected to be on a mixed note for the day with the trading range expected between 1.9350-1.9540 levels for the day. currency has its support at 1.9330 levels and holds resistance at 1.9570 levels .Momentum is trending up and RSI is seen flat giving no clues about the trend but currency is also seen trading below the fast moving average giving the possibility of downward correction.
pound is expected to be on a mixed note for the day with the trading range expected between 1.9350-1.9540 levels for the day. currency has its support at 1.9330 levels and holds resistance at 1.9570 levels .Momentum is trending up and RSI is seen flat giving no clues about the trend but currency is also seen trading below the fast moving average giving the possibility of downward correction.
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