GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.03% against the USD and closed at 1.6089.
The nine-member Monetary Policy Committee (MPC) led by Bank of England (BoE) Governor, Mervyn King voted to retain the benchmark interest rate at 0.5% and maintained the stock of asset purchases at £200.0 billion.
In the UK, manufacturing production declined 0.1% (M-o-M) in December, while industrial production edged 0.5% (M-o-M) higher in December.
The pair opened the Asian session at 1.6089, and is trading at 1.6062 at 4.00GMT. The pair is trading 0.17% lower from the New York session close.
The pair has its first short term resistance at 1.6129, followed by the next resistance at 1.6197. The first support is at 1.6003, with the subsequent support at 1.5945.
Trading trends in the pair is expected to be determined by economic release of producer price index in the UK later today.
The pair is trading slightly below both its 20 Hr moving average and 50 Hr moving averages.
