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22 Apr 2015
GBP/USD recovers losses ahead of BOE minutes
FXStreet (Mumbai) - The GBP/USD has recovered minor losses session seen in the Asian session ahead of the Bank of England minutes, which could show a unanimous vote to keep interest rates at record lows.
Hovers at 10-DMA
The pair currently hovers at its 10-DMA located at 1.4939, after having recovered from the low of 1.4912 seen in the Asian session. Investors await the BOE minutes from the April 9th meeting, which are widely expected to show a unanimous 9-0 vote in favor of keeping monetary policy unchanged. Moreover, this will be the last set of comments from the BOE members before the elections.
Ahead in the US session, the pair could also be influenced by the US existing home sales and house price index data.
GBP/USD Technical Levels
The immediate resistance is located at 1.4962 (50-DMA), above which gains could be extended to 1.5. On the flip side, a break below 1.4912 could drive the pair lower to 1.4864.
Hovers at 10-DMA
The pair currently hovers at its 10-DMA located at 1.4939, after having recovered from the low of 1.4912 seen in the Asian session. Investors await the BOE minutes from the April 9th meeting, which are widely expected to show a unanimous 9-0 vote in favor of keeping monetary policy unchanged. Moreover, this will be the last set of comments from the BOE members before the elections.
Ahead in the US session, the pair could also be influenced by the US existing home sales and house price index data.
GBP/USD Technical Levels
The immediate resistance is located at 1.4962 (50-DMA), above which gains could be extended to 1.5. On the flip side, a break below 1.4912 could drive the pair lower to 1.4864.