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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
