GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP remained flat against the USD and closed at 1.5976.
Yesterday, the Bank of England (BoE) left the interest rates unchanged at 0.50%, and maintained its quantitative easing at £375 billion, following its policy-setting meeting.
In the Asian session, at GMT0400, the pair is trading at 1.6008, with the GBP trading 0.20% higher from yesterday’s close.
The pair is expected to find support at 1.5953, and a fall through could take it to the next support level of 1.5899. The pair is expected to find its first resistance at 1.6038, and a rise through could take it to the next resistance level of 1.6068.
Trading trends in the pair today are expected to be determined by the release of the total trade balance in the UK.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
