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26 Jan 2016
GBP/USD rises through 1.4300
FXStreet (Córdoba) - The British pound shrugged-off another round of dovish comments from BoE Governor, and rallied to 4-day highs above 1.4300 against the dollar.
Oil prices recovery boosted investors sentiment during the New York session, helping GBP/USD to climb to its strongest level this week at 1.4334. The pair eased slightly from highs but it was last trading up 0.48% on the day at 1.4316.
BoE Governor, Mark Carney, repeated on Tuesday that conditions are not in place for a UK rate hike and added that the bank cut rates if needed.
GBP/USD levels to watch
On the upside, immediate resistances are seen at 1.4334 (1Jan 26 high) and 1.4361 (Jan 22 high) ahead of 1.4400 (psychological level). On the flip side, supports could be found at 1.4172 (Jan 26 low) and 1.4078 (7-year low, Jan 21).
Oil prices recovery boosted investors sentiment during the New York session, helping GBP/USD to climb to its strongest level this week at 1.4334. The pair eased slightly from highs but it was last trading up 0.48% on the day at 1.4316.
BoE Governor, Mark Carney, repeated on Tuesday that conditions are not in place for a UK rate hike and added that the bank cut rates if needed.
GBP/USD levels to watch
On the upside, immediate resistances are seen at 1.4334 (1Jan 26 high) and 1.4361 (Jan 22 high) ahead of 1.4400 (psychological level). On the flip side, supports could be found at 1.4172 (Jan 26 low) and 1.4078 (7-year low, Jan 21).