GBP/USD: was quite a show overnight, best performer

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    GBP/USD stile the show today, along with NZD and NOK. The greenback was the worst off post the FOMC's dovishness yesterday and subsequent sell-off.

    The pound made a high of 1.4505 earlier in the London afternoon while earlier in the day, the BoE held rates as expected at 0.5% with a unanimous 9-0 vote. (BOE MPC voted 9-0 to keep rates unchanged) However, markets are more behind dumping the greenback and
    while at the same time, cable had a bullish platform on the BoE's that was not as dovish as expected and commodities and oil were also supporting the bid.

    GBP/USD spikes to 1.4480 in an impulsive move

    BOE minutes – Rates expected to rise more gradually

    GBP/USD levels

    Sterling cleared through the 55 dma at 1.4326 with ease overnight and went to score fresh highs after just a small fade on the 1.44 handle before bulls committed and too the pair right onto the 1.45 handle for a 281 pip gain on the day. The grind now will need to get through the 14th highs first at 1.4534 and then the start of Feb highs at 1.4666.
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