Ladt week the Bank of England left rates unchanged:
Nomura says GBP could rise even further now:
- “There appears to be little appetite on the Monetary Policy Committee to rush into rate cuts,”
- rate-cut expectations appear excessive and are likely to be unwound
- this should benefit sterling
GBP should also catch a tailwind from
- improving global risk appetite
- many other central banks being likely to cut rates faster than the BOE
Daily candles:
I stuck in a horizontal line on a 'resistance becoming support' basis. I am certain traders out there could do better t/a than me here - comments welcome!
