GBP breaking to the upside after no change in QE

GBPUSD broke up and reached 1.6675 after BoE announced no change is Asset Purchase Facility. As expected, there was no change in official bank rate currently at 0.50%. EURGBP sold down from 8827 to 8731 and formed a nice bearish engulfing pattern on the daily chart. Further downside probable.

In the US unemployment claims were better than expected coming at 550k vs. 560k expected. US trade deficit widened to 32B vs exp. 27.1B. In Canada rates were left as expected at 0.25% and CAN trade balance came at -1.4B vs. exp. -0.1B. USDCAD strengthened from 1.0880 to 1.0795.

Gold broke back below 1000 and dipped to 984. Gold started to form lower lows and lower highs on the hourly chart and faces trendline resistance at 995. EUR was able to make a new high against the buck reaching 4607 before breaking down 100 points. If we fail to close above 4575 nice doji will be formed on the daily chart pointing to stalling up momentum. Light shorts with a stop above swing high advised.

Good trades