Bank of England Holds Policy Rate Steady

The BoE's decision to keep interest rates unchanged was generally in line with expectations, so the initial reaction may be limited. However, with RSI14 at 33.7, close to oversold territory, and the price trading below both the SMA20 and SMA50, the short-term technical picture appears weak. Meanwhile, MACD being slightly above its signal line suggests that downward momentum has weakened somewhat. Therefore, direction over the next 1-3 days after the news is uncertain; the reaction will depend more on post-meeting comments and data flow. Support can be watched around 1.3360, while the 1.3390-1.3440 range may serve as resistance.

The Bank of England's decision to keep its policy rate unchanged may have a limited impact on global markets, as it aligns with market expectations. The decision reaffirms the cautious stance of developed-country central banks and may not directly alter risk appetite. For emerging markets like Turkey, it does not signal a significant change in global liquidity conditions. In the short term, a neutral trend can be expected for the Turkish lira and Borsa Istanbul.