Sterling traded at weekly lows before the Bank of England decision to keep rates on hold prompted a recovery which was extended by Euro.
Tech View:
Pound chart pattern indicates a mixed note for the currency .with good support seen at 1.9496 levels and resistance is seen at 1.9660 levels. Trading range for the day is expected between 1.9510-1.9640 levels for the day. stochastic is trending up but Momentum are seen flat an element of caution is required as the currency is seen trading below the moving averages.
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