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GBP/USD muted post-BoE, around 1.4150

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The sterling remained apathetic following the BoE meeting, with GBP/USD hovering over the mid-1.4100s.

    GBP/USD keeps the red on BoE

    Spot kept the composure after the BoE’s MPC voted unanimously to keep the refi rate and the Asset Purchase Facility unchanged at 0.5% and £375 billion, respectively, matching previous consensus.

    The central bank has also argued that a ‘Brexit’ scenario could extend the period of uncertainty, while the MPC remains cautious ahead of UK data in the next months.

    GBP/USD levels to consider

    As of writing the pair is losing 0.43% at 1.4143 and a breakdown of 1.4091 (low Apr.14) would aim for 1.4004 (low Apr.6) ahead of 1.3992 (23.6% Fibo of 1.3833-1.4517). On the other hand, the next up barrier aligns at 1.4231 (20-day sma) followed by 1.4262 (55-day sma) and then 1.4460 (high Mar.30).
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