GBPUSD (1.4158): The British pound posted strong gains with early trading today sending the currency pair to a fresh two month high at 1.4170. The gains came amid a better than expected jobs report which saw wages finally catching up as inflation cooled. The GBPUSD breached the trend line which served as resistance and could be seen pushing higher ahead of the Bank of England meeting. The BoE is expected to give a hawkish forward guidance a today’s meeting with the markets now pricing in the next BoE rate hike in the month of May. A near term dips could be seen supported by the trend line which could now act as support.
