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GBP/USD : Bullish Trend Continuing

GBPUSD little changed after the Bank of England decision of keeping the Benchmark Rate at Record Low which was anticipated by the investors. The Bank left its key interest rate unchanged at .5% and its stimulus program unchanged at $627 billion. Market was also expecting the same as U.K. economy is in a state with solid growth and falling inflation and there is no pressure on the bank to change the policy at the moment. The bank also provided its forward guidance last month that it would not consider raising interest rates until the unemployment rate falls to 7% which is currently 7.2%.

 On the 4 hour chart of GBPUSD the pair seems to be consolidating within an ascending triangle giving a signal that the pair might break the resistance trend line and continue its upward movement.