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Two MPC members helped GBP/USD to come to life

FXStreet (Moscow) - GBP/USD rebounded from 1.66 support reaching 1.6629 before the MPC minutes release, and continued the move higher right after.

When two members dissent

Although the USD gets more popular every coming minute, the pound managed to recover part of its recent losses before the MPC release, and doubled the profits right after reaching 1.6678 high. We got to know there were two members voting to raise rates at the latest MPC meeting. It’s been a long time we have seen any dissents within the BOE camp, thus, no wonder the pound reacted with a rally. The next target to the upside may lie at 1.6680.

What are today’s key GBP/USD levels?

With spot trading at 1.6660, we can see next resistance ahead at 1.6674 (Daily 200 SMA), 1.6680 (Daily High), 1.6683 (Hourly 100 SMA), 1.6694 (Daily Classic R1) and 1.6728 (Weekly High). Support below can be found at 1.6653 (Daily Classic PP), 1.6626 (Hourly 20 EMA), 1.6617 (Monthly Low), 1.6617 (Weekly Low) and 1.6616 (Daily Open).

United Kingdom BOE MPC Vote Unchanged came in at 7, below expectations (9)

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EUR/GBP slumps as BoE MPC split on interest rates

The EUR/GBP slumped to a fresh 1-week low following the release of Bank of England’s latest minutes, which showed 2 members of the Monetary Policy Committee (MPC) voted to hike interest rates this month.
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