• Off 0.05% after closing down 0.05%, with the U.S. dollar up just 0.05%

• UK inflation came in as expected yesterday, easing to a still high 3.4%

• BOE to keep rates on hold amid the global volatility - rate bias still down

• The market's focus will be on the tone of the Monetary Policy Summary

• Charts - 5, 10, & 21-day moving averages, crest/fall, momentum studies, ease

• Neutral 21-day Bolli bands - the daily signals show a negative bias

• Yesterday's 1.3476 high, then Tuesday's 1.3577 top are the first resistances

• 1.3395 lower 21-day Bolli and 1.3386 0.5% May/June rise likely resilient

• 1.3386 0.5%, and 1.3328 0.618% of the May-June rise are next Fibo supports
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)