Since the Bearish engulfing candle formed on 22 July, this pair has steadily been falling again and with the BOE decision yesterday it really gave the sellers a renewed opportunity to step in! The pair shed 300p on the announcement and closed below the key price of 1.7360 (now Resistance). This pair is somewhat over-extended after the BOE news and as long as the Daily closes below 1.7360 I’m selling it off to 1.70500 (support area). NFP today, but his pair is not generally highly affected by USD news, but nevertheless the spread will increase and some volatility possible.
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