How to trade the Bank of England Meeting
The Bank of England (BoE) are set to announce their latest interest rate decision on Thursday.
Now at the moment the market are pricing in a 50/50 chance of a rate cut of 25bps.
Haskel and Saunders votes for a cut last time out. There are some analysts who believe Gertjan Vlieghe will join the dovish camp.
The UK's Chancellor Sajid Javid is set to deliver the latest UK fiscal budget in March. The could possibly wait until then for a decision.
GBP/USD is trading around 1.30 and as you can see from the chart below the trendline on the 4-hour chart has just broken. On the downside the next support is 1.2909 and the next resistance is 1.3039. Beyond that, the resistance above stands at 1.3094.
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Tradervidz will be offering free market analysis articles in the macro-asset markets - FX based for the most part.