GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.50% against the USD and closed at 1.5554.
The Bank of England (BoE) policy maker, Ben Broadbent stated that he is likely to vote for another round of quantitative easing, increasing expectations that BoE would soon go in for quantitative easing to support the slowing economy.
The pair opened the Asian session at 1.5554, and is trading at 1.5587 at 3.00GMT. GBP is trading 0.21% higher versus USD from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.5643, followed by the next resistance at 1.5699. The first support is at 1.5482, with the subsequent support at 1.5377.
Trading in the pair is expected to be influence by the release of money supply and CBI Distributive Trades Survey in the UK, later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
