GBP/USD Continues Bullish Momentum Following Bank of England

GBP/USD Continues Bullish Momentum Following Bank of England's Hawkish Stance

In Thursday's trading session, the GBP/USD pair experienced a notable surge, reaching its highest level since August. This swift ascent was primarily driven by the recent decision of the Bank of England (BoE) and its pronounced hawkish policy stance, contributing to the strengthening of the British Pound against the US Dollar.

As of the latest update, the price has broken above the crucial resistance level at 1.27330, signaling a strong intention to sustain and extend this bullish momentum. Today, traders are anticipating a potential continuation of the bullish impulse, with the possibility of a retest of the previous resistance level.

Investors will closely monitor market dynamics, key support and resistance levels, and any additional factors that could influence the GBP/USD pair's trajectory in the coming sessions. The recent developments highlight the impact of central bank decisions on currency pairs and the importance of staying informed about monetary policy stances for successful trading strategies.


Our preference

Long positions above 1.26800 with target at 1.28500