The British Pound trades pretty much flat against the greenback below the 1.5400 level, as the market waits for the Bank of England decision and the Inflation Report. An early spike beyond the key level was quickly reverted, indicating high expectations ahead of the news. The UK released its Hali-fax House Prices, which were 2.8% higher in the three months to October, than in the previous three months. The annual rate increased from 8.6% in September to 9.7% he technical picture is neutral-to bearish ahead of the BOE, as the 4 hours chart shows that the price develops below a bearish 20 SMA, whilst the technical indicators remain flat in negative territory. Nevertheless, the upcoming moves depend solely on the Central Bank announcement, and a hawkish stance may well fuel the pair beyond 1.5410, with the next intraday resistances at 1.5455 and 1.5500.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5400 TARGET 1.5420 1.5450 SL 1.5370
SELL GBP/USD BELOW 1.5375 TARGET 1.5355 1.5325 SL 1.5405
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