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Short

Cable breaks support 1.535 after BOE Inflation,targets 1.5200

FX:GBPUSD   Pound Sterling/U.S. Dollar
377 0 6
Cable has broken major support 1.5360 after release of BOE Inflation report. BOE inflation report says CPI             inflation expected to remain below 1% until second half of 2016.

The dampening effect of sterling rise to persist after H2 of 2016.So increase in interest rate will happen only in first quarter of 2017.

Technically it has broken major support 1.5350 and declined till 1.5280. Overall trend is weak as long as resistance 1.5360 holds.

On the downside any break below 1.5280 confirms further weakness, decline till 1.5200 is possible .

Slight bullishness only above 1.5400.

It is good to sell on rallies 1.5295-1.5300 with SL around 1.5351 for the TP of 1.5200
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