FXstreet.com (Barcelona) - The Pound has bounced up from levels right below 1.6340 support, to 1.6430 area as the Bank of England published the minutes of its latest monetary policy meeting, where no mention of the deposit rate cut has been made.
The Bank has released the unanimous approval of leaving Bank Rates at 0.25% its bond buying plan at GBP 175 billion, although King and Miles saw reasons for the increase of bonds buying. Furthermore, the Bank has not made any reference whatsoever to discussions over the deposit rate cut.
The Pound¡, which has weakened to levels below 1.6340 ahead of the minutes, has bounced strongly to reach intra-day high at 1.6425. In case of consolidating above 1.6400/10, previous day high, next resistance levels lie at 1.6430 (Sept 16 low) and 1.6485. Support levels lie at 1.6340, and below here, at 1.6300 and 1.6235.