GBP/USD: Central bank likely to cut interest rates: BoE Governor Mark Carney


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.15% against the USD and closed at 1.3068 after the Bank of England Governor, Mark Carney stated that the central bank is likely to consider further monetary easing if the economic outlook continues to remain subdued.

In the Asian session, at GMT0400, the pair is trading at 1.3068, with the GBP trading flat against the USD from yesterday’s close.

The pair is expected to find support at 1.3013, and a fall through could take it to the next support level of 1.2957. The pair is expected to find its first resistance at 1.3124, and a rise through could take it to the next resistance level of 1.3179.

Looking ahead, traders would await UK’s total trade balance, industrial production, gross domestic product and manufacturing production, all for November, scheduled to release next week.

The currency pair is trading between its 20 Hr and 50 Hr moving average.

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