Global macro overview for 05/11/2015:
The most important macroeconomic event of the day is so called "Super Thursday BoE", when Bank of England will flood the markets with data regarding the interest rate decision, meeting minutes, the quarterly inflation report, and a speech from the Governor himself, Mark Carney (all events are scheduled at 12:00am GMT). Investors hope that the unclear statements made by Carney some time ago about raising the rates around the year end will be justified and specified today after the BoE meeting. Under these circumstances, the BoE minutes would be key information provider telling investors about other potential scenarios for further BoE moves, with Carney himself potentially coming around to the idea.
The GBP/USD pair is trading under the important resistance at the level of 1.5508. Next support is seen at the level of 1.5359 .