5 Dec 2013
GBP/USD steady as BoE stands pat
FXstreet.com (Córdoba) - The GBP/USD remained little changed near daily lows after the Bank of England decided to keep its key rate and the size of the bond buying program unchanged in December.
At today's meeting, the BoE decided to leave its key lending rate at 0.5% and the QE total at £375 billion. The GBP/USD showed little reaction as the decision was widely anticipated and continued to trade within today's range, not far from its daily trough of 1.6334. At time of writing, the GBP/USD is trading at the 1.6345 area, recording a 0.2% loss on the day.
GBP/USD technical levels
As for technical levels, the GBP/USD could find immediate supports at 1.6325 (Dec 4 low) and 1.6300 (psychological level). On the other hand, resistances are seen at 1.6400 (psychological level) and 1.6441 (2013 high Dec 3).
At today's meeting, the BoE decided to leave its key lending rate at 0.5% and the QE total at £375 billion. The GBP/USD showed little reaction as the decision was widely anticipated and continued to trade within today's range, not far from its daily trough of 1.6334. At time of writing, the GBP/USD is trading at the 1.6345 area, recording a 0.2% loss on the day.
GBP/USD technical levels
As for technical levels, the GBP/USD could find immediate supports at 1.6325 (Dec 4 low) and 1.6300 (psychological level). On the other hand, resistances are seen at 1.6400 (psychological level) and 1.6441 (2013 high Dec 3).