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BoE Meeting Minutes Helping GBP/USD Attempt a Double Bottom
The Bank of England (BoE) released its meeting minutes for the latest monetary policy vote, which was to hold rates and maintain pace with the asset purchase program. Following the release, the GBP/USD tested the 2014-low at 1.5591 and rebounded after minor breach. The Double Bottom Attempt: The 1H chart shows this sharp rebound after a couple days spent drifting in low volatility. Price crossed the 100-, and 50-hour simple moving averages and the RSI pushed well above 60, show loss of bearish bias and momentum. We can also clearly see a double bottom attempt after the second failure to break down 1.5590. BoE Minutes ... (full story)