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4 Dec 2014
GBP/USD inches lower after BoE decision
FXStreet (Córdoba) - Pound was barely affected by the Bank of England decision to leave its monetary policy unchanged, as widely anticipated.
GBP/USD initially moved higher but then dropped a few pips on the back of the BoE decision, although it remained broadly unchanged within its daily range. At time of writing, the pair is trading at 1.5670, 0.09% below its opening price, having failed to consolidate above 1.5700 during the European session.
Bank of England maintains the status quo
At its December meeting, the MPC of the Bank of England decided to leave its monetary policy unchanged with the Bank Rate at 0.5% and the amount of the Asset Purchase Facility at £375 billion.
GBP/USD technical levels
As for technical levels, Cable could find next supports at 1.5660 (daily low) and 1.5618 (Dec 3 low), while resistances are seen at 1.5705 (daily high) and 1.5718/23 (Dec 3 high/21-day SMA).
GBP/USD initially moved higher but then dropped a few pips on the back of the BoE decision, although it remained broadly unchanged within its daily range. At time of writing, the pair is trading at 1.5670, 0.09% below its opening price, having failed to consolidate above 1.5700 during the European session.
Bank of England maintains the status quo
At its December meeting, the MPC of the Bank of England decided to leave its monetary policy unchanged with the Bank Rate at 0.5% and the amount of the Asset Purchase Facility at £375 billion.
GBP/USD technical levels
As for technical levels, Cable could find next supports at 1.5660 (daily low) and 1.5618 (Dec 3 low), while resistances are seen at 1.5705 (daily high) and 1.5718/23 (Dec 3 high/21-day SMA).