Forex: GBP/USD finds support at 1.6150

By IBTimes Staff Reporter | January 12 2010 5:59 PM

FXstreet.com (Córdoba) - Cable rose on Tuesday against the Dollar for the third consecutive day. GBP/USD failed to rise above 1.6200 after testing yesterday's high at 1.6190/95. The pair then pulled back finding support at 1.6150. In the last hours the pair has been steady moving in a range between 1.6180 and 1.6150.

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The FXMarketAlerts Team affirms: No discernible impact on Sterling from comments to the UK Guardian newspaper by BoE MPC member Andrew Sentance, who says that the BoE may soon decide if it has given enough stimulus (via QEP) but that that doesn't mean they will start to withdraw it. Last year, The BoE's Paul Fisher told the FT that the Bank might never announce 'that's it' with regards to QEP, reserving the right to recommence at some point after a wait and see period.

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