Our best spreads and conditions

Cable is on a four-day losing streak – its longest since late-Sep – ahead of Thursday’s Bank of England (BoE) decision. Economists at Scotiabank expect GBP/USD to suffer minor downward drift toward 1.36 owing to the chance that the bank holds.
“We think the odds that the BoE holds have risen. A rate hike this year still seems likely but the BoE may want to rein in expectations for 2022 – and hiking at the same time makes this a complicated message.”
“GBP/USD looks on track for a test of 1.36 that should stand as firm support and see it bought on dips below the figure until ~1.3585. A break below the mid-figure zone does leave the GBP at a clear risk of re-testing the low 1.34s where it traded in late-September.”
“Resistance is ~1.3670 and then the 1.37 zone with the 50-day MA at 1.3712.”