GBP/USD through 1.3300 on upbeat BoE

The Sterling is now recovering its shine following the BoE meeting, sending GBP/USD above the key 1.3300 handle, or daily tops.

GBP/USD bid after BoE

Cable met increasing buying pressure after the Bank of En gland left its monetary conditions unchanged at today’s meeting, keeping the refi rate at 0.25%, maintaining the government bond purchases at £435 billion and purchase of corporate bonds at £10 billion.

Further news noted members of the MPC voted 7-2 favouring the current monetary status quo, while the central bank considers appropriate some withdrawal of stimulus, likely in ‘coming months’.

GBP/USD levels to consider

As of writing the pair is up 0.64% at 1.3294 and a break above 1.3308 (high Sep.14) would open the door to 1.3329 (2017 high Sep.13) and finally 1.3447 (high Sep.6 2016). On the flip side, the immediate support lines up at 1.3159 (low Sep.8) seconded by 1.3112 (23.6% Fibo of the 2017 up move).