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GBP/USD steadies in a range

FXstreet.com (Córdoba) – The GBP/USD managed to reverse early losses during the American session, propelled by BoE Governor speech.

GBP/USD propelled by BoE liquidity moves

Even though Carney sounded pretty dovish, he announced the BoE will further relax rules on required liquid asset holdings for banks, which should free up another GBP 90 billion of credit. GBP/USD rallied over 120 pips following Carney’s words but failed to overcome the 1.5550 resistance area and entered in a consolidation phase.

GBP/USD levels to watch

At time of writing, GBP/USD is trading around 1.5525, where it is 0.1% below its opening price, with immediate resistances …read more