FXStreet — The selling pressure versus the Sterling is increasing, so that the GBP/USD day-to-day low at 1,2870.
GBP/USD breaks through with the BoE IR 1,2900
The GBP sellers quickly came into the market, after the BoE left its monetary policy unchanged as expected. The MPC Members have spoken with a 7:1 vote in favour of no Change to monetary policy, the only member of the Forbes voted for a rate increase.
The Central Bank raised its inflation forecast for 2017 from 2.4% previously, to 2.7%, while one expects a rise in the CPI in Q4 of 2017 to around 2.8%.
The BoE also noted that the UK may need a tighter monetary policy than the interest rate curve requires.
GBP/USD to test levels
Currently, the daily loss of EUR -0.39% at 1,2891 and the next supports is at 1,2873 (Deep 11. May), 1,2851 (20-day SMA and 1,2829 (Tief 4. May). On the other hand, Resistances can be found at 1,2992 (2017 High 8. May), 1.3000 (psychological level) and 1,3125 (High of 22. September 2016).
** FXStreet News Editorial, FXStreet**