OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD losing altitude post-BoE

FXStreet (Edinburgh) - The sterling is now losing the grip vs. the greenback, sending GBP/USD to the area of 1.5150.

GBP/USD lower on BoE

The pair has retreated from session highs near 1.5200 the figure after the BoE has left unchanged its monetary policy stance at today’s meeting. The central bank left intact its refi rate at 0.5% and the Asset Purchase Facility at £375 billion, universally in line with market expectations. Further data saw the BoE MPC vote coming in at 8-1 in favour of leaving the monetary status quo intact.

The BoE minutes argued that current lower oil prices could keep inflation levels subdued, adding that a Fed’s lift-off could weigh on the EM space.

GBP/USD important levels

The pair is now down 0.28% at 1.5136 with the next support at 1.5100 (psychological level) ahead of 1.4954 (low Dec.8) ahead of 1.4893 (low Dec.2) and then 1.4853 (low Apr.21). On the flip side, a breakout of 1.5231 (55-day sma) would open the door to 1.5336 (high Nov.9) and finally 1.5350 (100-day sma).

BoE policy unchanged with remote chances of near-term hike - ING

James Knightley, Research Analyst at ING, notes that the Bank of England has left monetary policy unchanged as widely expected.
Read more Previous

GBP/JPY trades below 184.00 after BOE rate decision

Sterling was offered after the BOE left rates unchanged, pushing the GBP/JPY to 183.59; its lowest since Oct 16th.
Read more Next
Start livechat