It seems like the BOE (Bank of England) beat the ECB in the game of ignoring inflation. The BOE inflation report and interest rate decision was delivered a few minutes ago and there was no sign of inflation anywhere in those papers. 

It´s not that the BOE can do a lot more, given the tough place they are in with all this Brexit hullabaloo. In fact, major central banks such as the FED, the BOE, and the ECB have been cornered by politics now, so don´t expect a lot from them nowadays, guys.

Even so, the inflation report was more dovish than anyone thought. I honestly expected one or two hints but nothing at all. The most they revealed in the report was their intentions to leave inflation overshoot above the 2% target.   

But, that´s even more dovish. It means that they won´t hike the interest rates even if CPI (consumer price index) rises above that target. 

So, GBP pairs are about 100 lower now. GBP/USD is threatening the 100 SMA in green on the H1 forex chart, but this forex pair is the most dangerous one to trade right now. So, we´re staying out of it with short term forex signals.