GBP/USD hits new 2013 highs at 1.6375

FXstreet.com (Barcelona) – GBP/USD is printing new highs in Asia, as an initial consolidation carving out a base at 1.6330 has been followed by an impulsive series of bullish candles 2013 highs at 1.6374, December 30 2012 high.

BoE announcement takes market by surprise

GBP, in a strong trend as of late, responded positively to the BoE’s announcement to end the Funding for Lending Scheme incentives for mortgage lending on Thursday, which “took the market by surprise” said Brian Martin, Strategists at ANZ, adding that “the decision reinforces forward guidance and helps to further anchor inflation expectations.”

GBP/USD technical analysis

Technically, Valeria Bednarik, …read more