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Forex: GBP/USD plunges on BoE meeting minutes

The GBP/USD is falling massively at the time of writing as the BoE meeting minutes surprise investors with the 6-3 vote to keep QE unchanged at £375B. Governor King, Fisher and Miles were in favor of an increase of £ 25B. The GBP/USD has fallen by 100 pips already, from 1.5440 to 1.5340.

UK labor data shows a higher ILO unemployment rate from 7.7% to 7.8%. However, there were 12.5K less claimants in January, instead of -5K as expected, pushing the rate lower from 4.8% to 4.7%.

“Near-term focus remains at key supports at 1.5267/33, med-term range lows, with upside being protected at 1.5500/50 and only breaks here would signal pause in current descend, for some corrective action”, wrote Windsor Brokers analyst Slobodan Drvenica.

Forex: GBP/USD collapses below support to 1.5349/50

The GBP/USD has plummeted over 80 pips amidst the BOE minutes and following the publication of the economic data in the UK Wednesday. Following the abrupt pullback, the pair crashed through calculated support at 1.5400 and is now trading at 1.5349/50, establishing new session lows at the time of writing.
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Forex: EUR/GBP rallies on BoE's King vote for QE

The British Pound is getting run over by the euro after the BoE meeting minutes revealing that Governor King, Fisher and Miles were in favor of an increase of £ 25B in QE. The EUR/GBP has rallied from 0.8690 to as high as 0.8757, and it's not safe to say the rally has stopped.
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