11 May 2015
GBP/USD hits year-to-date high above 1.5600
FXStreet (Córdoba) - GBP/USD extended gains during the New York session and broke above 1.5600 in recent dealings as the pound remains bid across the board following UK elections and BoE policy meeting.
GBP/USD accelerated gains over the last hours and reached a year-to-date high of 1.5604 before easing slightly. At time of writing, Cable is trading at 1.5590, recording a 0.93% gain on Monday. Immediate resistances are now seen at 1.5640 (200-day SMA) and 1.5664 (Dec 22 high).
Today, the Bank of England decided to leave monetary policy unchanged as widely expected, with the Bank rate at 0.5% and QE at GBP 375 billion. Focus now turns to Wednesday's Quarterly Inflation Report.
GBP/USD accelerated gains over the last hours and reached a year-to-date high of 1.5604 before easing slightly. At time of writing, Cable is trading at 1.5590, recording a 0.93% gain on Monday. Immediate resistances are now seen at 1.5640 (200-day SMA) and 1.5664 (Dec 22 high).
Today, the Bank of England decided to leave monetary policy unchanged as widely expected, with the Bank rate at 0.5% and QE at GBP 375 billion. Focus now turns to Wednesday's Quarterly Inflation Report.