Wednesday, November 11, 2026

Technicals / Central Banks

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FxWirePro: GBP/USD drops towards 1.5300 on dovish MPC minutes, sell rallies

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 li…

By Jay L. Zagorsky
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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

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By FxWirePro Team