***Thursday brings a risk-laden session....>

STERLING: ***Thursday brings a risk-laden session for sterling traders with the

BoE MonPol decision headlining, but additional risk coming in the form of the

latest retail sales data. Unanimous consensus looks for the BoE to stand pat,

with most looking for a hike in May, although the likes of Barclays, RBC & TD

highlight a chance of a 7-2 vote today.

- Cable has held around 1.4150 for the bulk of the Asia-Pacific session, while

EURGBP operates at 0.8730 last.

- Cable's 55-DMA (1.3821) has provided the base for a rally to fresh 2-month

highs with bulls now focused on the 1.4286-1.4349 region where 2018 highs are

located. The 1.4087-1.4127 support region is now key.

- For EURGBP the the fallout from the failure to deal with the top of the

congested trading area that has prevailed for the last 6 months, has continued

with a vengeance this week. The Feb 1 low of 0.8717 provides interest to the

downside, with the Jan 25 low of 0.8687 giving the first notable level of

support below the next round number. In the meantime, resistance from

0.8775-0.8785 keeps a lid on near term recovery potential.