5 Dec 2013
GBP/USD turns lower ahead of BoE
FXstreet.com (Córdoba) - After being rejected from the 1.6400 level, the GBP/USD came under pressure ahead of the Bank of England monetary policy decision.
The GBP/USD has lost more than 50 pips over the last hours accelerating lower on the break of the 1.6370 area, where the pair scored an Asian low. At time of writing, the GBP/USD is trading at the 1.6345 area, recording a 0.2% loss on the day, having hit a low of 1.6342. At 12:00 GMT the Bank of England will release its monetary policy decision, with analysts expecting the bank to keep rates unchanged at 0.5% and its bond-buying program unchanged at £375 billon.
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), while resistances are seen at 1.6400 (psychological level) and 1.6441 (2013 high Dec 3).
The GBP/USD has lost more than 50 pips over the last hours accelerating lower on the break of the 1.6370 area, where the pair scored an Asian low. At time of writing, the GBP/USD is trading at the 1.6345 area, recording a 0.2% loss on the day, having hit a low of 1.6342. At 12:00 GMT the Bank of England will release its monetary policy decision, with analysts expecting the bank to keep rates unchanged at 0.5% and its bond-buying program unchanged at £375 billon.
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), while resistances are seen at 1.6400 (psychological level) and 1.6441 (2013 high Dec 3).