7 Nov 2013
GBP/USD muted after BoE
FXstreet.com (Edinburgh) -The GBP/USD keeps the range on Thursday, gyrating around 1.6079/75 after the BoE’s interest rate decision.
GBP/USD muted after the release
The pair remained indifferent after the BoE acted in line with market expectations, leaving both the lending benchmark and the purchases of Gilts unchanged at 0.5% and £375 billion, respectively. “The upmove after 1.5940 is still intact, as the pair is heading for a tight test of 1.6130 major resistance. Initial minor support is projected at 1.6060, followed by the crucial low at 1.6017”, observed Stoyan Mihaylov, Analyst at DeltaStock.com.
GBP/USD key levels
As of writing the pair is now losing 0.03% at 1.6077 and a dip beyond 1.6063 (A10d) would bring 1.6043 (low Nov.6) and finally 1.6000 (psychological level). On the upside, the immediate resistance aligns at 1.6118 (high Nov.6) followed by 1.6122 (61.8% of 1.6258-1.5904) and then 1.6143 (high Oct.29).
GBP/USD muted after the release
The pair remained indifferent after the BoE acted in line with market expectations, leaving both the lending benchmark and the purchases of Gilts unchanged at 0.5% and £375 billion, respectively. “The upmove after 1.5940 is still intact, as the pair is heading for a tight test of 1.6130 major resistance. Initial minor support is projected at 1.6060, followed by the crucial low at 1.6017”, observed Stoyan Mihaylov, Analyst at DeltaStock.com.
GBP/USD key levels
As of writing the pair is now losing 0.03% at 1.6077 and a dip beyond 1.6063 (A10d) would bring 1.6043 (low Nov.6) and finally 1.6000 (psychological level). On the upside, the immediate resistance aligns at 1.6118 (high Nov.6) followed by 1.6122 (61.8% of 1.6258-1.5904) and then 1.6143 (high Oct.29).