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Cable steady as "Super Thursday" meeting looms

al_dcdemo Posted 5 Nov.  in #Trader's blog #Boe #GBP/USD #Support #Resistance #Inflation Report #Interest Rate Decision #H1 Chart
BOE will unveil their latest stance on monetary policy and view/outlook on U.K. economy at the second "Super Thursday" meeting, which features interest rate decision and voting, monetary policy statement, inflation report and a press conference. It will all begin at 12:00 GMT.
Given importance of this quarterly event, potential for volatility is great. First stronger support is seen near 1.5350 (50 DMA, 200 DMA) and then 1.5250 (Previous Week Low). Some resistance may come in ahead of 1.5450 (Pr…
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2 Comments
fxsurprise8 avatar
fxsurprise8 5 Nov.

Boom, not steady anymore

al_dcdemo avatar
al_dcdemo 6 Nov.

It went from steady to a steady decline. :)

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Aussie breaks 0.70

al_dcdemo Updated 2 Sep.  in #Trader's blog #Support #Resistance #AUD/USD #Rba #Gdp #Interest Rate Decision #H1 Chart
After muted immediate reaction to the RBA interest rate decision yesterday, Aussie resumed its downtrend and lost nearly a cent by the end of the day. The decline continued overnight ahead of and after the release of weaker than expected Q2 GDP report:
GDP (QoQ) 0.2% vs. 0.4% expected, 0.9% previous
GDP (YoY) 2.0% vs. 2.2% expected, 2.5% previous
The pair is trading at new six-year lows and traded under 0.70 for the first time since April 2009. Support may come in between 0.6950 and 0.6980 (Low …
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