ANALYSIS
NQ100 Finds Support from PPIApr 14
GBPCAD Is In Uptrend Before BoE
It remains on the uptrend ahead of the Bank of England's (BoE) interest rate decision today. While the 25 basis point rate hike expectations are moving towards a decision, whether the BoE will announce the end of the interest rate cycle is the main factor that will determine the direction in the parity. Technically speaking, the support of 1.6792, which is indicated by the minor uptrend, and 1.6770, which corresponds to the major trend, are critical. Staying above these regions may lead the rises to appetite again and target 1.6865 and then 1.6943 resistances. However, 1.6720 and 1.6660 supports may enter our radar in the declines that may occur under the trend.
