The pound jumped after Bank of England’s decision and consolidated gains. BoE kept rates at 0.50% as expected but three MPC members asked for a rate hike. Cable extended gains on the back of a weak US Dollar, approaching 1.3300. The GBP/USD pair rose more than 150 pips from the daily low. Earlier today bottomed at 1.3100, the lowest since November. After the BoE decision climbed above 1.3200 and then, a weak US dollar boosted the pair further to the upside. Recently it printed a fresh daily high at 1.3270, the highest level since Tuesday. It was hovering around 1.3250/60, consolidating important daily gains. The pound is among the top performers on Thursday on the back of BoE policy expectations that changed after the 7-2 vote at the MPC and the comments regarding when to consider changes to the purchase program. “The GBP appreciated and Gilt yields rose across the curve on the hawkish signals from the Bank of England. The market is now pricing in above 65% probability of a rate hike in August (17bp priced) compared with around 45% probability prior to the announcement, while a November hike is now almost fully priced in. Prior to the announcement, the next rate hike was priced to arrive in February 2019″, said Danske Bank analysts. GBP/USD Levels to watch To the upside, the immediate resistance is seen at 1.3270 and then at the 1.3300 area. On the flip side, short-term support levels might now be located at 1.3215 (June 20 high), 1.3145 (June 19 & 20 low) and the 1.3100 zone. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BoE: August rate hike alive – Danske Bank FX Street 5 years The pound jumped after Bank of England's decision and consolidated gains. BoE kept rates at 0.50% as expected but three MPC members asked for a rate hike. Cable extended gains on the back of a weak US Dollar, approaching 1.3300. The GBP/USD pair rose more than 150 pips from the daily low. Earlier today bottomed at 1.3100, the lowest since November. After the BoE decision climbed above 1.3200 and then, a weak US dollar boosted the pair further to the upside. Recently it printed a fresh daily high at 1.3270, the highest level since Tuesday. It was hovering around 1.3250/60,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.