CBRT Holds Policy Rate Steady at 37%

The Central Bank of the Republic of Turkey's decision to keep its policy rate unchanged at 37% appears in line with market expectations; therefore, a limited impact on EURTRY is anticipated. Technical indicators point to a sideways trend: RSI is neutral around 50, and the price is very close to the SMA20 and SMA50. MACD is slightly below the signal line, but the gap is very small, indicating no clear momentum. The pair's 0.2% rise over the past 24 hours also signals low volatility. In the short term, fluctuation around the 56.50 level is highly likely; if the lira depreciates after the interest rate decision, a limited upward move could be seen, but an additional trigger would be needed for a strong breakout.

The Central Bank of the Republic of Turkey's decision to keep its policy rate unchanged at 37% appears in line with market expectations; therefore, a limited impact on GBP/TRY is anticipated. Technical indicators are mixed: RSI14 at 40 is weak but not in oversold territory, MACD is below the signal line and slightly negative. The price is just above the SMA20 and SMA50, with a sideways trend prevailing. In the short term (1-3 days), an additional catalyst is needed for a clear direction to form. Following the decision, the likelihood of a strong reaction in the lira, either depreciation or appreciation, is low.