ANALYSIS
NQ100 Finds Support from PPIApr 14
The Pressure May Continue in GBPUSD
The Bank of England (BoE) is expected to evaluate another 50 basis point interest rate increase at its September monetary policy meeting as a result of the rising inflation expectations in the UK. Some prominent FED Officials have been keeping their hawkish stance against inflation rates that have fallen from their 41-year peak lately. Technically, GBPUSD parity, which gives the signals of downward movements in the descending minor channel formation, may bring the 1.1720 support level to the agenda, if it passes below the 1.1780 level with permanent closes. On the upside attempts, 1.1870 followed by 1.1915 resistance may be in question.
