GBP/USD Advances Above 1.4400 on BoE
The buying interest remains solid around the British pound, with GBP/USD now flirting with session highs beyond 1.4400 the figure.
GBP/USD firmer post-BoE
The pair is extending its upside momentum after the BoE has left unchanged its monetary policy stance at today’s meeting, with the benchmark rate at 0.5% and the asset purchase facility at £375 billion. Furthermore, the MPC has once again voted 9-0 favouring leaving the policy intact.
In the meantime, the generalized sell-off in the greenback continues to sustain the rally in the risk-associated currencies and commodities, collaborating with today’s upside.
GBP/USD levels to consider
As of writing the pair is up 1.07% at 1.4412 facing the next hurdle at 1.4438 (high Mar.11) ahead of 1.4471 (76.4% Fibo of 1.4670-1.3833) and finally 1.4670 (high Feb.4). On the other hand, a breakdown of 1.4153 (20-day sma) would open the door to 1.4028 (23.6% Fibo of 1.4670-1.3833) and then 1.4000 (psychological level).
(Market News Provided by FXstreet)
