9 Oct 2014
GBP/USD in fresh highs post-BoE
FXStreet (Edinburgh) - The pound keeps the good mood on Thursday, taking GBP/USD to levels around 1.6215/20, printing new session peaks.
GBP/USD neutral following the BoE
Spot almost bypassed today’s BOE MPC meeting, after the ‘Old Lady’ left unchanged both the asset purchase facility and the repo rate at £375 billion and 0.5%, respectively. The outcome was largely expected by market participants and well priced in in the recent GBP performance. Traders will now look to the more significant BoE minutes (due in a couple of weeks) for further clues regarding the next rate hike and the slack in the labour market, amongst another key issues in the British economy.
GBP/USD levels to watch
At the moment the pair is up 0.26% at 1.6211 and a breakout of 1.6234 (50% of 1.6525-1.5943) would target 1.6235 (21-d MA) en route to 1.6252 (high Oct.1). On the down path, the immediate support lines up at 1.6154 (10-d MA) followed by 1.6115 (Tenkan Sen) and then 1.6032 (low Oct.8).
GBP/USD neutral following the BoE
Spot almost bypassed today’s BOE MPC meeting, after the ‘Old Lady’ left unchanged both the asset purchase facility and the repo rate at £375 billion and 0.5%, respectively. The outcome was largely expected by market participants and well priced in in the recent GBP performance. Traders will now look to the more significant BoE minutes (due in a couple of weeks) for further clues regarding the next rate hike and the slack in the labour market, amongst another key issues in the British economy.
GBP/USD levels to watch
At the moment the pair is up 0.26% at 1.6211 and a breakout of 1.6234 (50% of 1.6525-1.5943) would target 1.6235 (21-d MA) en route to 1.6252 (high Oct.1). On the down path, the immediate support lines up at 1.6154 (10-d MA) followed by 1.6115 (Tenkan Sen) and then 1.6032 (low Oct.8).