GBP/USD: Sterling rallied, extending gains for the fourth straight session, after the Bank of England stroked a less dovish tone than other central banks, reiterating their message that rates would need to rise in a limited and gradual manner. The major traded 0.05 percent up at 1.2702, having hit a high of 1.2727 on Thursday, it’s highest since Jun. 12.
Investors’ attention will remain on BoE quarterly bulletin, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2763 (June 7 High), a break above could take it near 1.2813 (May 21 High). On the downside, support is seen at 1.2628 (Jun. 20 Low), a break below targets 1.2580 (Jun. 14 Low). Against the euro, the pound was trading flat at 88.89 pence, having hit a high of 88.72 on Thursday, it’s highest since Jun. 7.
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