GBP/USD breaks 1.3000, up by whopping 250 pips today

FXStreet Team FXStreet

The GBP/USD pair added roughly 250 pips this Thursday, as despite optimistic Brexit headlines were denied, the Sterling found support in an upbeat BOE and dollar's sell-off.

The GBP/USD pair soared past 1.3000, in spite of suffering a knee-jerk early Europe following the release of the October UK Markit Manufacturing PMI, down to 51.1 from September 59.7. According to the official report, new orders and employment decline for the first time in 27 months. The BOE's monetary policy meeting was utterly optimistic as policymakers hinted rate hike coming, conditional to Brexit results while leaving forecasts little changed from their previous meeting. Markets eyeing May 2019 as a possible date for next move.

Currently trading at 1.3008, the next resistance comes at 1.3043, October23rdh high.

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FXStreet Team

FXStreet

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