GBP/USD edges higher as sentiment mildly improvesThe pound edged higher against the U.S. dollar on Thursday, as market sentiment slightly improved ahead of the European Central Bank's upcoming policy statement.
GBP/USD hit 1.5173 during European morning trade, the session high; the pair subsequently consolidated at 1.5169, adding 0.17%.
Cable was likely to find support at 1.5055, the low of January 20 and resistance at 1.5269, the high of January 15.
Investors were waiting to see if the ECB would embark on a large scale quantitative easing program later in the day.
Dollar hovers close to multi-year highs, ECB statement on tap
The dollar was hovering close to 12-year highs against the other major currencies on Thursday, as investors awaited the European Central Bank's policy statement due later in the day, as well as the weekly U.S. report on jobless claims.
EUR/USD was steady at 1.1617. Sentiment on the single currency remained vulnerable as investors waited to see if the ECB would embark on an outright quantitative easing program on Thursday.
The pound edged slightly higher against the dollar, with GBP/USD adding 0.19% to 1.5170.
The dollar was hovering close to 12-year highs against the other major currencies on Thursday, as investors awaited the European Central Bank's policy statement due later in the day, as well as the weekly U.S. report on jobless claims.
EUR/USD was steady at 1.1617. Sentiment on the single currency remained vulnerable as investors waited to see if the ECB would embark on an outright quantitative easing program on Thursday.
The pound edged slightly higher against the dollar, with GBP/USD adding 0.19% to 1.5170.
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