GBP/USD back to 1.3350, still bid post-BoE

The British pound is now looking to digest the recent decision by the BoE, taking GBP/USD to the mid-1.3300s for the time being.

GBP/USD faded the spike above 1.34

Spot has quickly reversed the spike to multi-day tops to the 1.3460/65 band following the steady stance from the BoE at today’s meeting and is now consolidating the firmer tone around the 1.3370 region.

Recall that MPC members voted 8-1 in order to leave the current monetary conditions intact, although most members expect some form of easing at the meeting next month.

GBP/USD levels to consider

As of writing the pair is gaining 1.74% at 1.3375 facing the next resistance at 1.3463 (session high Jul.14) followed by 1.3535 (high Jun.29) and finally 1.3646 (38.2% Fibo of 1.5020-1.2796). On the flip side, the immediate support appears at 1.2851 (low Jul.11) ahead of 1.2797 (20916 low Jul.6).