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GBP/USD in fresh highs post-BoE

FXStreet (Edinburgh) - The pound keeps the good mood on Thursday, taking GBP/USD to levels around 1.6215/20, printing new session peaks.

GBP/USD neutral following the BoE

Spot almost bypassed today’s BOE MPC meeting, after the ‘Old Lady’ left unchanged both the asset purchase facility and the repo rate at £375 billion and 0.5%, respectively. The outcome was largely expected by market participants and well priced in in the recent GBP performance. Traders will now look to the more significant BoE minutes (due in a couple of weeks) for further clues regarding the next rate hike and the slack in the labour market, amongst another key issues in the British economy.

GBP/USD levels to watch

At the moment the pair is up 0.26% at 1.6211 and a breakout of 1.6234 (50% of 1.6525-1.5943) would target 1.6235 (21-d MA) en route to 1.6252 (high Oct.1). On the down path, the immediate support lines up at 1.6154 (10-d MA) followed by 1.6115 (Tenkan Sen) and then 1.6032 (low Oct.8).

United Kingdom BoE Asset Purchase Facility in line with forecasts (£375B) in October

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BoE keeps policy unchanged

At today’s meeting, the Bank of England decided to leave its monetary policy unchanged with the Bank rate at 0.5%, where it has stood since March 2009.
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