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Currency Strenght

Wednesday 20 July 2011

Hi Guys and Girls been away for a while on hoilday to the dominican Rep trying to settle back in to things.
anyways i'm watch the pound
 
MY NOTES
 
The Bank of England (BOE) Monetary Policy Committee (MPC) Meeting Minutes are a detailed record of the committee's interest rate meeting held about two weeks earlier.

It gives a picture of economic conditions in the UK.
It also records the votes of the individual members of the Committee
If the BoE is hawkish about the inflationary outlook, it should be taken as positive/bullish for the GBP.

Bears : £ @ 1.6128 and  Is Still with in the April 27th fallin trend line from 1.6751
And according to my account were yet to have a 5thwave completions  Target 1 1.6011 with a 58% chance of this taking place. Target 2 in the 1.58/1.57 region. a break of 1.6042 will comfirm this.

Bulls: Were above the 55DMA on the 4hr chart slightly bullish MACD, and RSi
depending on the news bulls will have to break out of the trenches and hold above 1.6200. If this transpires i'll be looking for a pull back to go long. meaning

Hope this helps

Mr Kasim Ijelu



Recent news
MrAshraf.L
The release of this month's BoE MPC minutes showed no change in the split (7 voted for no change in rates, 2 voted for a hike and Posen remains the ony voter for further stimulus). Interestingly, the majority of the MPC made no explicit reference to QE--something the market was focusing on ahead of the release.










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