ANALYSIS
NQ100 Finds Support from PPIApr 14
GBPUSD Continues to Defend Descending Channel Movement
We saw that the pound received some reaction against the dollar after the Bank of England (BoE) increased interest rates by 75 basis points at its monetary policy meeting. However, after the BoE's recession forecast for the last quarter, the pound continues to retreat. On the other hand, the effects of the FOMC meeting are still strongly felt in the parity. From this point of view, if the parity, which is headed for the downtrend, falls below the 1.1145 level, the pullback cycle may continue until the 1.1085 support. Above, 1.1275 and then 1.1330 resistances can be followed.
