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GBP/USD rises through 1.4300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The British pound shrugged-off another round of dovish comments from BoE Governor, and rallied to 4-day highs above 1.4300 against the dollar.

    Oil prices recovery boosted investors sentiment during the New York session, helping GBP/USD to climb to its strongest level this week at 1.4334. The pair eased slightly from highs but it was last trading up 0.48% on the day at 1.4316.

    BoE Governor, Mark Carney, repeated on Tuesday that conditions are not in place for a UK rate hike and added that the bank could cut rates if needed.

    GBP/USD levels to watch

    On the upside, immediate resistances are seen at 1.4334 (1Jan 26 high) and 1.4361 (Jan 22 high) ahead of 1.4400 (psychological level). On the flip side, supports could be found at 1.4172 (Jan 26 low) and 1.4078 (7-year low, Jan 21).
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