GBP/USD muted post-BoE, around 1.3240

The British pound has barely reacted following a steady stance from the BoE, with GBP/USD keeping the range near 1.3245/40.

GBP/USD unchanged on BoE

The pair kept the composure after the BoE left unchanged its monetary status quo at today’s meeting, with the refi rate at 0.25%, QE at £435 billion and purchases of Corporate Bonds at £10 billion.

Furthermore, minutes from the meeting showed a unanimous vote (9-0) favouring the current stance, while most MPC members expect further rate cuts at some point later in the year. Additionally, MPC members see less of a slowdown in UK’s economic growth during the second half of 2016.

In the meantime, spot has surrendered initial gains and seems comfortable around 1.3230/40 for the time being, all ahead of key US releases later in the NA session.

GBP/USD levels to consider

As of writing the pair is gaining 0.01% at 1.3238 and a break above 1.3447 (high Sep.6) would aim for 1.3481 (high Jul.15) and then 1.3646 (38.2% of the post-Brexit down move). On the other hand, the next support lines up at 1.3133 (support line off July’s top) followed by 1.3056 (low Aug.29) and finally 1.2863 (low Aug.15).