GBP/USD Price Analysis: Bounces off monthly support to defend 1.3800
GBP/USD pokes intraday high of 1.3835, up 0.05% intraday during the subdued Asian session on Friday.
In doing so, the cable pair pares Thursday’s losses following its bounce off a two-week-old horizontal support zone surrounding the 1.3800 threshold.
Even so, MACD conditions aren’t favorable to the pair’s further upside, which in turn suggests fresh pullback from nearby resistances, namely 1.3875-80 and the 1.3900 round figure.
Bank of England urged to spell out plans to curb inflation – FT
The Financial Times (FT) covered remarks from the UK’s House of Lords Committee to highlight the push for the Bank of England (BOE) to tame inflation.
The news, published early Friday in Asia, reads, “The House of Lords economic affairs committee, which includes former BoE governor Mervyn King, said on Friday that the BoE had failed to justify its flagship QE policy — the practice by which central banks seek to stimulate spending by creating money and pumping it into the economy by purchasing assets.”
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