(Fixes typo in headline)

• GBP$ surged higher in NorAm trading; +0.77% at 1.3470; NY range 1.3474-1.3334

• BoE held rate as exp'd; vote 6-3 was slightly more hawkish than expected

• BoE holding line awaiting inflation data in light of recent oil volatility; Bailey says can wait & see

• Pair also benefiting from significant USDJPY selling on suspected intervention

• GBP$ res 1.3460/74 23.6% Fib of 1.3140-1.3556/Thurs high, 1.3517 upper 30-d Bolli

• Supt 1.3399 flat 200-DMA, 1.3368 falling 10-DMA, 1.3334 Thursday low (Europe)

• Note long tail Thursday, support near 1.3275 last 3-sessions hint at growing support

GBP$ Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)