GBP/USD at daily high


GBP/USD is trading at daily high after the BoE revisedup the economic growth forecasts for the UK economy to 3.4% in 2014 from 2.8%.
Regarding consumer prices, the central bank said they would gyrate around the bank’s target.

The pair hit the low at 1.6425 and reboundedafter the report from BoE hiting the daily high for second time.
The pair is now up at 1.6550 with the nexthurdle at 1.6565 (high Jan.30) followed by 1.6606 (high Jan.29). On the flip side, a break below 1.6425 (low Feb.12) would open the door to 1.6392 (low
Feb.11) and finally 1.6384 (low Feb.10).




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