GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.40% against the USD and closed at 1.6391.
In the UK, the minutes of the last BoE meeting indicated that the Bank of England`s Monetary Policy Committee maintained its 6-3 split in favour of keeping rates on hold this month. Meanwhile, eight members of the MPC voted to maintain the size of quantitative easing at £200.0 billion.
The pair opened the Asian session at 1.6391, and is trading at 1.6437 at 3.00GMT. The pair is trading 0.28% higher from the New York session close.
The pair has its first short term resistance at 1.6488, followed by the next resistance at 1.6539. The first support is at 1.6347, with the subsequent support at 1.6257.
With a series of UK economic releases today, including retail sales and mortgage approvals, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
