GBP/USD breaks above 1.5000 after BoE
Pound recovery from 1.4475 low on Friday has extended to 1.5000 psychological level on European session, and the pair ticked up higher, to reach 1.5025 session high after the BoE decoded to maintain its Bank Rate at 0.5%.
On the upside, if the pair confirms its move above 1.5000, the pair might find resistance at 1.5045 and 1.5125. On the downside, support levels remain at 1.4835 (intra-day support), and below here, 1.4755 (session low) and 1.4710 (May 6 low).
The Bank of England has decoded to maintain its Bank Rate at 0.5%, all-time low, as widely expected, while keeping the size of its Asset Purchase Programme at GBP200 billion.
Labels: Tollywood Model