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GBP/USD rebounds to session highs

FXStreet (Edinburgh) - The BoE minutes are now boosting the sterling, pushing GBP/USD to test session peaks around 1.5640.

GBP/USD stronger after BoE minutes

Broadly in line with market consensus, the BoE voted 7-2 to keep the refi rate unchanged at 0.5%, whereas the vote to keep the asset purchase facility at £375 billion was unanimous. However, the Committee sees risk of the slack soon to be over, putting the CPI under upside pressure as a consequence. Spot reacted with a spike beyond 1.5650 from ytd lows in the 1.5590 band, recovering the ground lost since the opening in Asia.

GBP/USD levels to watch

As of writing the pair is up 0.11% at 1.5648 with the next resistance at 1.5679 (high Nov.18) and then 1.5737 (high Nov.17). On the flip side, a breakdown of 1.5564 (low Sep.6 2013) would aim for 1.5556 (low Sep.4 2013).

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