The GBPUSD popped higher in early New York trading after the BoE remained sidelined at kept interest rates at current levels. The pair could not manage to break above the .382 fib level at 1.60. that level is now short term resistance followed by 1.6040. It will take a break of these levels to open the cross up to a push towards the larger range top at 1.6140.
A push lower would have to break below daily price support at 1.5930. Just below this level lays the 50 Fib from the move higher to 1.63 at 1.5903. A move to this level could find buyers in the short-run.
Sup 1.5930 1.5903 (50 Fib)
Res 1.5999 (.382 Fib) 1.6040
Keane Plan....Looking for a break of 1.6040 or a push down towards the 50 fib at 1.5903.
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