GBP/USD extends gains to 2-week highs

By FXStreet FXStreet (Córdoba) – GBP/USD extended gains and printed fresh 2-week highs as the greenback was facing some selling pressure after the European close.

GBP/USD managed to resume the advance and gathered pace to climb above the 1.5450 zone to a fresh high of 1.5475, last seen Aug 27, where the 20-day SMA offered resistance. At time of writing, the pair is trading at 1.5457, recording a 0.59% daily gain.

Earlier on Thursday, the Bank of England MPC members voted 8-1 to hold rate unchanged at a record low of 0.5%, where it has stood since March 2009.

GBP/USD levels to watch

On the upside, above 1.5475, next resistances could be found at 1.5507/13 (Aug 27 high/100-day SMA) and 1.5560 (Aug 18 low). On the downside, supports are seen at 1.5337 (Sep 10 low), 1.5319 (10-day SMA) and 1.5300 (psychological level).
For more information, read our latest forex news. …read more

Source:: FX Street