The British pound continues to trade higher against the U.S dollar, despite a brief pullback, following a hawkish FOMC policy statement. FOMC policy makers yesterday kept interest rates on hold, but paved the way for a December rate hike. The GBPUSD pair currently trades around the 1.3280 level, head of today’s key Bank of England interest rate decision and monetary policy statement.
The GBPUSD pair remains bullish while trading above the 1.3268 technical level. Further upside should be expected above 1.3267, towards the 1.3307, 1.3360 and 1.3400 levels.
Should price-action dip below the 1.3267 technical level, a further decline towards the 1.3236 and 1.3202 levels remains likely.
