The Bank of England remained sidelined in early New York trading and left rates unchanged. The BoE also refrained from issuing a policy statement. These actions could indicate that the BoE is finished with its current easing cycle. Yet the GBPUSD snapped below its consolidation range between 1.6130 and 1.6185 in New York Trading. Negative sentiment from the ECB appears to have pulled the pair lower. The pair runs into channel and daily support at 1.6050. A break or hold of this level will be key. A push below could signal the beginning of a trend change lower, initially targeting 1.5960. A push back above 1.6085 could favor a run at the 1.6180/1.62 resistance zone.
Sup 1.6085 1.6180
Keane Plan...Watching channel action at support at 1.6050
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