GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.54% against the USD and closed at 1.5828.
The Bank of England (BoE) Monetary Policy Committee kept UK interest rates at their 3-year low of 0.5% and maintained the quantitative easing limit at £325 billion.
In the Asian session, at GMT0400, the pair is trading at 1.5818, with the GBP trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 1.5763, and a fall through could take it to the next support level of 1.5707. The pair is expected to find its first resistance at 1.5854, and a rise through could take it to the next resistance level of 1.5890.
Trading trends in the pair today are expected to be determined by the release of industrial production, Producer Price Index and trade balance data in the UK.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
