Cable’s still stuck below $1.34British Pound/US DollarFX:GBPUSDMichael_Stark_ExnessBritish annual headline held as expected at 3% in February, supporting the impression that the BoE is likely to hike rates within the next few months and completely removing for now expectations of more cuts in 2026. The probability of a hike in April is around 70% and another is fully priced in for July, so a total of three hikes this year seems likely. That would take the bank rate back to 4.5%. However, cable hasn’t moved in a clear directional trend since the start of the Gulf conflict. The range in March has been between about $1.32 and $1.345. Buying volume spiked significantly with 23 March’s up candle, which might suggest another attempt to test the top of the range. There’s currently no signal of saturation from either Bollinger Bands or the slow stochastic. A breakout in either direction would probably need a strong driver from news or economic data. Obvious possibilities include significant developments in the Gulf and a surprise from 3 April’s NFP. However, in the absence of clear new information, the price might settle into a sideways trend within more-or-less the same range as previously. This is my personal opinion, not the opinion of Exness. This is not a recommendation to trade.