All Eyes On BOE

After a remarkable success story when David Cameron won the election, there was pretty much one way trade for the sterling, which is trade towards the upside. The Bank of England started its hawkish rhetoric which turned around and conspired all heads towards peacock strutting sterling. But, then there was always a question who is going to be the first one to increase the interest rate?

Daily Briefing: US Futures Lower Ahead of Budget Balance Data

EUR/USD: The pair has broken out of its wedge pattern towards the upside on a 60 minute time frame. The next resistance is at 1.146 and the support is at 1.1024. USD/JPY: The pair is consolidating in a side way pattern on a 60 minute time frame. The next resistance is at 124.13 and the support is at 115.92. GBP/USD: The pair is trading near the upward trend line on a 60 minute time frame. The resistance is near the 1.5530 and the next support is at 1.5107