GBPUSD on the 4-hour chart

THE GBPUSD pushed sharply higher on the back of the Bank of England's 15 basis point rise in rate to 0.25%. The move helped to push the price further away from its 100 bar moving average on the 4-hour chart above. That moving average comes in at 1.32746. The pair also moved above a swing area between that moving average at 1.32746 and 1.3291.

The run to the upside took the price to a session high of 1.33735. That was a above a higher swing area between 1.3351 and 1.33694, but short of its 200 bar moving average and the four hour chart at 1.33825.

The price is subsequently moved back toward the midpoint between the 100 bar moving average below at 1.32746 and 1.33825. The current price trades at 1.33223.