• Cable shown a slight decline after central bank kept the interest rate unchanged at 0.25% and lowers growth forecast. The committee voted by a majority of 7-1 to maintain bank rate at 0.25%. The pair has closed below minor support 1.2900 yesterday at 1.2880 and it is currently trading around 1.28535.
   
• BOE monetary policy committee (MPC) sets monetary policy to meet 2% inflation target to sustain growth and employment.
   
• On the higher side, major resistance is around 1.3000 and any break above confirms bullish continuation. Any break above will take the pair till 1.3050/1.3088 in the short term.
   
• The near term support is around 1.2830 (May 4th 2017 low) and any break below will drag the pair down till 1.2780 (23.6% retracement of 1.2108 and 1.29875).
  
  It is good to sell on rallies around 1.2920-1.2925 with SL around 1.3000 for the 1.2830/1.2750.