Bank Of England is coming :) Watch out

2016年8月4日

• With Bank of England ready to Cut its Interest rates to record low of 0.50 by cutting 25 basis points this will be first policy action in 7 years and also continue its Quantitative Easing at £375 billion.

• Therefore Pound is looking ready for a selloff also Reuters reported that speculators were holding record short positions on pound,which sets the scene for a big bounce if they decide to hold.

• In any Case We need to be Prepared therefore i have marked a Short Term Consolidation Pattern (Triangle) suggesting a break on either side.
  

• With the the Fundamental back drop i am a Seller of Pound going into the event i also marked a Long term Demand Zone in case there is a Surprise and they(BOE) decide to hold for a while.
  

Disclosure: i already have a position long in the pair and will add on above mentioned zones.

If you like my analysis please hit the like button to support

EURGBP

2016年8月4日

注释

Holding 21 EMA will be key going forward

2016年8月12日

注释

New Highs for the boy :)