The GBPUSD surges as BOE takes hawkish stance

<p>The GBPUSD ran higher today spurred on by follow-through USD selling (GBPUSD buying) after the more dovish Fed, and follow through buying of the GBPUSD pair on the back of a more hawkish BOE today.</p><p>The move to the upside worked its way toward the 1.2800 where old swing high area between 1.2789 and 1.27994 on the 4-hour char with ,t and natural resistance against the 1.2800 level stalled the rally.,</p><p>Heading into the new trading day close support will come against swing highs from the end of November/early December between 1.2723 and 1.27325. The 61.8% retracement of the 2023 trading range is also a level in play as support just below that level at 1.2719. Going into the new trading day traders will be watching that level on any dip for support buyers.</p><p>The video above outlines all the details for the bullish bias and what would hurt that bias going forward. With</p>

This article was written by Greg Michalowski at www.forexlive.com.