FxWirePro: GBP/USD rise above 1.5413 on BoE short lived, pair back below 1.54
Cable extended upbeat momentum after BoE remains on the sidelines once again at today's meet as widely expected Minutes revealed an 8-1 voting pattern in favour of keeping the current monetary stance Minutes also showed …
Cable extended upbeat momentum after BoE remains on the sidelines once again at today's meet as widely expected
Minutes revealed an 8-1 voting pattern in favour of keeping the current monetary stance
Minutes also showed the policymakers see considerable uncertainty over the impact of the strong GBP on inflation
GBP/USD hit session tops near 1.5450 after the vote, but subsequently pared gains taking the pair back below 1.54 levels
Markets now appear to be focusing on BOE's concerns regarding Sterling strength
GBP/USD currently trading at 1.5397, with immediate resistance at 1.54 and further at 1.5413 (38.2% of last two week's fall), supports are at 1.5350 (200-DMA) and 1.53 levels.
