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GBP/USD rejected at 1.5372, slips towards 1.5300 on dovish UK CPI forecast via MPC minutes.
- BoE on hold in 8-1 vote as expected, giving no indication it is any closer to raising rates
- The c.bank said annualized UK CPI likely to stay below 1% until Spring 2016
- Some members see shorter lag between higher rates, inflation - mildly hawkish
- Cable currently trading at 1.5309, 1.5373 was pre-MPC minutes high, resistance seen at 1.5353 (4h 200MA), support at 1.5297 (4h 10MA)
Recommendation: Sell rallies around 1.5315/20, SL: 1.5360, TP: 1.5285
