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Bank of England's quarterly inflation report meeting a.k.a. the Super Thursday meeting concludes today. While a rate hike is off the table, it's quite possible that they'll maintain an upbeat assessment of the economy despite some recent weakness in the short term data. If anything, stronger pound brings some of the desired tightening without them needing to hike. That said, I wouldn't go long GBP/USD just yet.
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Cable's Super Thursday
BOE will hold the first meeting in the new format today. Alongside interest rate decision (11:00 GMT), there will be immediate release of MPC Meeting Minutes and voting. On top of that, Quarterly Inflation Report will be released and a press conference will be held (11:45 GMT). The media calls it a "Super Thursday".
Support: 1.5490 - 1.5525 (Previous Day Low, Weekly Support 1, 00's), 1.5450 - 1.5465 (July 24th low, July 14th low, 50's), 1.5350 - 1.5400 (trendline drawn off May and June lows, 200…
Support: 1.5490 - 1.5525 (Previous Day Low, Weekly Support 1, 00's), 1.5450 - 1.5465 (July 24th low, July 14th low, 50's), 1.5350 - 1.5400 (trendline drawn off May and June lows, 200…