GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.07% against the USD and closed at 1.6463.
Bank of England Policy Maker, Ben Broadbent stated that the outlook for the UK and global economies has deteriorated in recent months but the current stance of monetary policy in the UK remains appropriate.
The pair opened the Asian session at 1.6463, and is trading at 1.6478 at 3.00GMT. The pair is trading 0.09% higher from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6522, followed by the next resistance at 1.6566. The first support is at 1.6433, with the subsequent support at 1.6388.
Trading trends in the pair today are expected to be determined by release of CBI industrial order expectations data in the UK.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
