GBP/USD capped at 1.5250

FXStreet (Edinburgh) - The bull run in GBP seems to have run out of legs in the mid-1.5200s now, with GBP/USD now deflating to the 1.5230 region.

GBP/USD focus on BoE

The pair continues to trade on the right footing on Thursday, advancing for the third consecutive session from levels below the 1.5000 mark to test 3-week peaks near 1.5250. Of note (not really) in the UK economy, will be the BoE MPC meeting, albeit markets expects the ‘Old Lady’ to leave the monetary policy unchanged, with the subsequent BoE minutes gathering more relevance in a couple of weeks.

Data wise, UK house prices tracked by Halifax gained 2.0% inter-month in January and 8.5% on a yearly basis; while Trade Balance figures are due tomorrow.

GBP/USD levels to consider

As of writing the pair is up 0.24% at 1.5243 with the immediate hurdle at 1.5270 (50% 1.5588-1.4952) ahead of 1.5264 (high Jan.6) and finally 1.5323 (23.6% of 1.6525-1.4952). On the downside, a drop below 1.5200 (psychological level) would open the door to 1.5139 (low Feb.4) and then 1.5128 921-d MA).