06, June 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

Although the British pound fell to 1.5281 low, but remained stable before the Bank of England decision on interest rates as the central bank to abandon the soft tone of monetary policy.

Indeed, the Bank of England Governo Mervyn King said the UK economy got better, he sees that «gentlerecovery" is underway and said that the monetary policy committee "has done much to stimulate economic activity," the central bank prolongs lending scheme funding for a further 12 months.

England seems to be slowly moving away from the abating cycle and the pair looks ready to reach new high levels.