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- Major support - 1.3200 (200 HMA).
- The pair has declined sharply from the high off 1.3374 after BOE cuts interest rate by 25bpbs.The pair declined till 1.31557 at the time of writing.
- The BOE has boosted its asset purchase facility by £60 billion to £435 billion from £375 billion.
- Any violation below 1.3200 will drag the pair down till 1.3100/1.3060/1.3000 in the short term.
- On the higher side trend reversal happens only above 1.3375.The minor resistance is around 1.3300.
It is good to sell on rallies around 1.3195-1.3200 with SL around 1.3300 for the TP of 1.3000
