The Bank of England will take minutes the market A step closer to the prices in additional QE?

By Michael Wright, currency analyst di Oct 19 18: 04: 00 GMT 2010 fundamental Outlook

At the Bank of England's rate decision hit on 7 October was the decision to keep the key cash rate and the asset purchase target unchanged at 0.50% and £ 200 billion or not unanimously. I expect that the meeting of minutes show policy-makers Andrew sentance dissent continue against the majority and press for a rate increase of 25 basis points, as consumer prices remain persistent through the Central Bank target. At the same time it is possible that a three-way split operators, like Member Adam Posen recently requested, quantitative easing measures, to avoid a Japanese style deflation for Great Britain, was witness could. All in all is Andrew sentance's push for a rate increase expected; However, Sterling could place calls for more measures to stimulate the extra weight to the couple balanced looks like, to close below 20-day moving average, while the parabolic SAR on the flip side flip has is characteristic of losses. United Kingdom to high uncertainty about the Economic Outlook that tomorrow could a shift between members of the Committee and will be split among the Committee likely to expand in the near future British pound price action for the rest of the week dictate you click. Technical Outlook GBPUSD daily chart charts created using FXCM's strategy trader GBPUSD: after testing 1600, the GBPUSD quickly reversed course and broke below both the 10 and 20-day SMA's. In fact, the pair sees poised to close below the latter which is important because has served as a moving average support since mid-September. All in all is facing couple downside risks towards 1.5600 with a pause in exposing 1.540.It is also worth noting, messages, understanding that our speculative sentiment index to 1.81 and signals for more declines stands for more technical analysis visit of the DailyFX technical page written by Michael Wright, currency analyst to receive future articles via email, please contact me under mwright@fxcm.com Michael Wright author FX vs. technical of intraday trading, Forex trading weekly forecast weekly spotlight

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Di Oct 19 18: 04: 00 GMT 2010

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