For the 24 hours to 23:00 GMT, GBP fell 0.46% against the USD and closed at 1.5519.
The Bank of England (BoE), in its Monetary Policy meeting, voted to raise asset purchase target to £375 billion by injecting £50 billion into the nation’s economy. Additionally, the bank voted to keep its interest rate on hold at 0.5%, where it has been since March 2009.
Separately, Halifax house prices in the UK rose 1.0% (MoM) in June, following a 0.5% rise in May.
In the Asian session, at GMT0300, the pair is trading at 1.5524, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.5475, and a fall through could take it to the next support level of 1.5426. The pair is expected to find its first resistance at 1.5598, and a rise through could take it to the next resistance level of 1.5672.
Trading trends in the pair today are expected to be determined by input and output producer price index in the UK.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.