European & US sessions forecast levels: 1.9480/1.9655
Trend Sessions: European â€“ Neutral
US â€“ Neutral
Market Focus: 4:30 AM PPI, Core CPI.
Daily Strategy: The expecting action of Bank of England stops the trading at neutral direction. If BoE were not on the way to cut the interest rates the trading would be at levels of 2.05-2.10. But when the Fed is on the way to cut the interest rates BoE will follow the Fed and is widely expecting serial of cut of UK interest rates. That will keep the pound trading into low levels.