The dollar fell against most of its major counterparts due to the delay in the timeline for the interest rates increase, as mentioned in the FOMC meeting minutes released. Cable rebound above the 200 hourly average which was last seen the week before Scotland voted for their independence referendum en route to 1.65. The pair is expected to see minor resistance at 1.616 but certainly looks bullish on the intraday, bearing in mind the H4 picture looks slightly dovish and may be in for a slight retracement. No doubt, the market will also be watching the MPC for signs of an earlier than expected interest rate increase in the U.K, but a non-confirmation will also likely see GBP/USD gain slightly today before the U.S weekly unemployment benefit claim numbers.
|Bullish/ Near resistance||1.5948||1.6||1.61||1.616||1.62||1.632|