Cable has broken major support 1.5360 after release of BOE Inflation report. BOE inflation report says CPI inflation expected to remain below 1% until second half of 2016.
- The dampening effect of sterling rise to persist after H2 of increase in interest rate will happen only in first quarter of 2017.
- Technically it has broken major support 1.5350 and declined till 1.5280. Overall trend is weak as long as resistance 1.5360 holds.
- On the downside any break below 1.5280 confirms further weakness, decline till 1.5200 is possible .
- Slight bullishness only above 1.5400.
It is good to sell on rallies 1.5295-1.5300 with SL around 1.5351 for the TP of 1.5200
