FXStreet (Edinburgh) – The sterling is gathering further traction vs. the US dollar on Thursday, now pushing GBP/USD to session tops near 1.5450.
GBP/USD firmer after UK’s ‘Super Thursday’
The pair is extending its upbeat momentum after the BoE remains on the sidelines once again at today’s meeting, matching the broader consensus.
In addition, BoE minutes revealed an 8-1 voting pattern in favour of keeping the current monetary stance, with MPC member Ian McCafferty voting for a rate hike to 0.75%. The BoE argued that the outlook for the near-term inflation figures is almost the same from the previous month, while some members saw upside risk to consumer prices
GBP/USD levels to watch
As of writing the pair is advancing 0.47% at 1.5443 with the next resistance at 1.5505 (high Aug.27) ahead of 1.5717 (high Aug.26) and then 1.5818 (high Aug.25). On the other hand, a break below 1.5270 (low Sep.8) would open the door to 1.5150 (low May 6) and finally 1.5089 (low May 5).
(Market News Provided by FXstreet)