Line Changes:
> Combined the two converging stay lines to one and extended. Likely that angle is too steep for stay…
> All the lower dotted lines are ‘scribble’. Only line important now is the Active Stay Line.

Position Changes:
>None short

Order Changes:
> None… but ready to decrement the stops to Stay Line if needed…

The British Pound retraced the overnight advance and slipped back below the 1.5700 level as the Bank of England lowered its outlook for growth and inflation, and the exchange rate may maintain the downward trending channel from the November high (1.6879) as the central bank expects price growth to fall back below the 2% target.

Talking Points
• Japanese Yen: Slightly Higher Against Higher-Yielding Counterparts
• Pound: BoE Holds Dovish Outlook, Maintains Option...