22 Jul 2015
GBP/USD keeps the range on BoE
FXStreet (Edinburgh) - The pound has gathered further traction vs. the greenback on Wednesday, pushing GBP/USD to session peaks near 1.5660 after the release of the BoE minutes.
GBP/USD stronger post-BoE minutes
The pair clinched the boundaries of 1.5660 after the BoE MPC unanimously vote on leaving the monetary policy stance unchanged at last meeting. The minutes showed that members remain divided on the impact of wage growth on domestic consumer prices. In addition, members argued that a stronger GBP could adversely affect the economic growth. Furthermore, the Greek crisis has pushed back intentions of a rate hike by some members.
Spot is now back to the 1.5600/10 band after climbing as high as 1.5650 in the wake of the publication. No further releases are due in the UK economy, while US Existing Home Sales are next on tap on the USD-side.
GBP/USD relevant levels
At the moment the pair is advancing 0.33% at 1.5608 and a break above 1.5672 (high Jul.17) would open the door to 1.5700 (psychological level) and then 1.5734 (high Jul.1). On the flip side, the immediate support aligns at 1.5550 (low Jul.22) ahead of 1.5500 (psychological level) and then 1.5450 (low Jul.17).
GBP/USD stronger post-BoE minutes
The pair clinched the boundaries of 1.5660 after the BoE MPC unanimously vote on leaving the monetary policy stance unchanged at last meeting. The minutes showed that members remain divided on the impact of wage growth on domestic consumer prices. In addition, members argued that a stronger GBP could adversely affect the economic growth. Furthermore, the Greek crisis has pushed back intentions of a rate hike by some members.
Spot is now back to the 1.5600/10 band after climbing as high as 1.5650 in the wake of the publication. No further releases are due in the UK economy, while US Existing Home Sales are next on tap on the USD-side.
GBP/USD relevant levels
At the moment the pair is advancing 0.33% at 1.5608 and a break above 1.5672 (high Jul.17) would open the door to 1.5700 (psychological level) and then 1.5734 (high Jul.1). On the flip side, the immediate support aligns at 1.5550 (low Jul.22) ahead of 1.5500 (psychological level) and then 1.5450 (low Jul.17).