GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.47% against the USD and closed at 1.6213.
Minutes from the BoE’s policy meeting earlier this month indicated greater support among officials for raising interest rates.
In the UK, BBA mortgage approvals rose to 28,932 in January, following 28,907 approvals posted in December.
The pair opened the Asian session at 1.6213, and is trading at 1.6245 at 4.00GMT. The pair is trading 0.20% higher from the New York session close.
The pair has its first short term resistance at 1.6282, followed by the next resistance at 1.6320. The first support is at 1.6185, with the subsequent support at 1.6126.
With no major release from the UK, the pair is expected to trade on trends in the greenback.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
