GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.38% against the USD and closed at 1.5660.
The Bank of England stated that its bond-purchase plan had “economically significant” effects on Britain’s financial system, though the impact of future purchases may differ.
The pair opened the Asian session at 1.5660, and is trading at 1.5661 at 3.00GMT. GBP is trading flat versus USD from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.5734, followed by the next resistance at 1.5806. The first support is at 1.5610, with the subsequent support at 1.5558.
The pair is expected to trade on the cues from the release of consumer confidence data in the UK.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
