FxWirePro: Cable trades lower after BOE monetary policy, good to sell on rallies

Cable falls below major support 1.5150 after BOE monetary policy meeting and declined till 1.51338 at the time of writing.

• BOE has kept the interest rates unchanged at 0.5% in line with expectations. According to minutes, the majority of policymakers marked fall in oil prices and subdued wage growth will keep the headline inflation below 1% in H1 of 2016. So this confirms BOE not going to hike rates no sooner than expected  
   
• Technically the pair has broken major support 1.5150 a decline till 1.5100/1.5050 is possible term trend is bearish as long as resistance 1.5220 holds.
   
• Any break above 1.5220 will take the pair to next level 1.5250/1.5280 level.

It is good to sell on rallies around 1.5160 with SL around 1.5220 for the TP of 1.5050/1.5000