Quantitative Tightening is the key phrase ahead of MPC meeting tomorrow, 1900 (GMT+7). This is the result of banks solvency stress tests (SST) conducted in November 21. The MPC has the confidence that QT is the way to go and it will not reinvest into their own assets. ING predicted that BOE will will hike up its rate to 0.5% and are expecting investors will do gilts buying. Will they?
Lets see the H4 and H1 charts, above. With market strength showing 70% Bearish, most likely way to go is south. Unless the SL of H4, 1.36772 is penetrated up tomorrow. For today, H1 has a Buy signal, with SL, 1.33954 and TP3, 1.35892, TP4, 1.37325. Watch out for those levels and trade well.
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