The British pound has moved sharply higher against the U.S dollar, hitting 1.4171, after the Federal Reserve raised interest rates but struck a dovish tone towards the U.S economy. The GBPUSD pair is now trading around the 1.4150 level, with the U.S dollar index remaining under pressure well below the key 90.00 level. Traders now look towards today’s Bank of England interest rate decision, with recent strong UK wage and jobs data supporting overall pound sentiment.
The GBPUSD pair is strongly bullish whilst trading above the 1.4088 level, further upside towards 1.4200 and 1.4279 remains possible.
Should GBPUSD sellers breach the 1.4088 support level, price-action will then likely correct back toward the 1.4045 and 1.4000 support levels.
