In result of the previous trading session the cable made a rebound from a combination of the 55-, 100- and 200-hour SMAs as well as the weekly PP at 1.3415 just as expected.
Even though traders are mainly focused on the upcoming decision on interest rate hike, there is also a need to take into account an effect from release of information on the UK inflation. In case of match with expectations, the Pound might temporarily jump back to the above resistance barrier. In the opposite case, bears are likely to push it down to the 1.3300 mark. So, depending on the released data, the currency rate might start tomorrow’s trading day either near the monthly PP at 1.3372 or the weekly S1 at 1.3290.
