Sterling has already started trading the MPC minutes so here are some tech levels to watch
UP - Near resistance is at 1.5630 then 1.5650/55. Stronger lies at 1.5675/80, 1.5700 then 1.5735. Break above 1.5785 and then 1.5800 and we could be back on the way to test the year's highs in the 1.59's. If we get Weale and McCafferty voting for hikes then we will probably clear 1.5700 without stopping on the way. 1.5735 may be the point at which we see a move start to run out of steam. If we get 3 or more votes for hikes then there's every chance of seeing 1.58 or more
Down - It's hard to see the pound getting shaken too much on an unchanged number but at the least this morning's rally will be snuffed out. 1.5590 is support but too close to the current price, as will be 1.5580-70. If we are to see buyers looking for dips then 1.5540 (55 dma) down to 1.5530 is the likely point we see any rapid falls start to be soaked up. If the pound does throw a strop then 1.5500 could come under pressure and there's a short term support line there too
GBPUSD H1 chart
As well as the vote we also get an insight into what the MPC members are thinking which will have a say in the moves too. Take note of the vote for an initial reaction and then the details of the minutes for a secondary move
