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BoE to cut rates this Thursday – Weekly review 11th July

GBP/USD

News

  • Tuesday 10:00 BST  BoE Governor Carney testifies about the Financial Stability report
  • Wednesday 09:30 BST Quarterly BoE Credit conditions Survey
  • Thursday 12:00 BST MPC Bank rate etc – Analysts expect 0.25% cut
  • 13:30 US PPI
  • Friday 13:00 BST BoE Governor Carney speaking about climate change and financial markets in Toronto
  • 13:30 US CPI

Key Levels (based on ATR of 430 pips)

Resistance

  • Weekly Pivot 1.30299
  • daily 8ema 1.30818
  • 27/6/16 low 1.31189
  • Previous lows and Monthly sm1 1.32080
  • Weekly R1 pivot 1.32608
  • Weekly RM2 1.34162

Support

  • Weekly sm1 1.28745
  • Near term low 1.27905
  • Weekly S1 1.27191
  • Monthly S1 & Weekly SM2 1.26046
  • Weekly S2 1.24882
  • Monthly S2 1.19218

EUR/USD

News

  • Little in the way of significance from Europe
  • Thursday 13:30 US PPI
  • Friday 13:30 US CPI

Key Levels (based on weekly ATR of 220pips)

Resistance

  • Weekly Pivot 1.10800
  • Weekly RM1 & previous highs and lows 1.11170
  • Monthly pivot and daily 21ema 1.11474
  • Weekly R1 1.11552
  • Previous high and lows 1.11864
  • Daily 50sma 1.12397
  • Weekly r2 and Monthly RM1 1.12645

Support

  • Monthly SM1 and previous low 1.10080
  • Weekly S1 1.09714
  • Most recent significant low (24th June) 1.09125
  • Weekly S2 1.08950
  • Monthly S1 1.08685
  • March lows 1.08279
  • Weekly S3 1.07876

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