ANALYSIS
NQ100 Finds Support from PPIApr 14
BoE Decision was Overshadowed by FED
The Bank of England's (BoE) monetary policy interest rate announcement dated November 3 was published. The bank increased interest rates by 75 basis points in line with market expectations. Initially, the pound received some reaction, but at this point, the BoE's recession forecast in the last quarter does not allow the pound to head for a meaningful recovery against the strong dollar. From this point of view, in the GBPUSD parity, where downward movements are observed by breaking the upward trend, psychological support of 1.1100 is likely to come to the fore, if it is passed below the 1.1165 level in a pressured way. In the possible uptrends, 1.1310 and then 1.1380 resistances may be in question.
