European & US sessions forecast levels: 1.9480/1.9665
Trend Sessions: European â€“ Downward
US â€“ Neutral/Upward
Market Focus: 4:30 AM Trade Balance, 7:00 AM Interest Rate Statement.
Daily Strategy: Bank of England interest rates decision is the top event today. The action of BoE is not sure. Some analyzers predict Bank of England to cut the interest rates with 25 bps. It is possible even aggressive interest rates cut with 50 bps or to leave the interest rates unchanged. If BoE leaves the interest rates unchanged the bank will signal that will cut the interest rates soon. At the same time the pound recovery strong against the dollar and in spite the decision is possible fast move of the trading at the levels above 1.97 today.