GBPUSD STILL BULLISH WHILE ABOVE 1.3400
The British pound has turned lower against the U.S dollar, following the Bank of England monetary policy decision. The GBPUSD pair fell towards the 1.3400 support level, after BOE policy member kept rates unchanged at 0.50 percent, with all MPC members voting to keep rates unchanged. The pair had previously spiked to 1.3466, after UK Retail Sales came in better than expected, rising 1.1 percent in November. Traders now await the release of November Retail Sales data from the American economy.
The GBPUSD pair remains intraday bullish while holding key the 1.3400 technical level. Buyers will likely target the 1.3442 and 1.3470 resistance levels while above 1.3400.
Should price-action on the GBPUSD pair move back below the 1.3400 level, sellers will likely target the 1.3380 and 1.3340 levels.