ANALYSIS
NQ100 Finds Support from PPIApr 14
GBP lost almost 2 percent in 2 days against USD
Despite the expectations for a rate hike decision from the Bank of England meeting yesterday, The Bank didnot make any changes on the rates and quantitative easing program. As a result pressure on sterling is increasing. Considering this pressure, bullish moves may gain momentum in the pair and if the pair gets below 1.3400 support, 1.3355 will be on our radar. In further declines, 1.3305 indicated by Fibonacci 200 percent expansion line will be followed. Against possible recovery movemenets, on the other hand, we will keep an eye on 1.3500 and 1.3560 resistance levels.
