BOE’s Cunliffe: We don’t see sustained signs of domestic inflation pressures




GBPUSD falls on comments.
He adds:

  • If August forecasts come to pass, interest rates need to rise, but when it starts is more open to question
  • A number of banks to make plans to move some business out of the UK if not «brexit» transition agreement.

The GBPUSD has moved a little further down on the comments. Looking at the hourly chart of the pair traded to NY session lows at 1.3153. The 61.8% of the move up from the 6 October, the bass comes in at 1.3145. A better support of the target on the continuation of the weakness was near the place where the price bottomed today. The 1.3121 area has been a swing level (with both a floor and a ceiling) dating back to the 5th of October. Stay on top of more optimism. Passage below, more bearish.
The NY session high today, the vendors ahead of the next target the 200 hour MA (green line in the chart below, at 1.3219.



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