GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.04% against the USD and closed at 1.6316, after the Bank of England’s (BoE) Monetary Policy Committee left its key lending rate unchanged at a record-low 0.5% and made no changes in its asset-purchase program.
The pair opened the Asian session at 1.6316, and is trading at 1.6353 at 3.00GMT. The pair is trading 0.23% higher from the New York session close.
The pair has its first short term resistance at 1.6388, followed by the next resistance at 1.6424. The first support is at 1.6288, with the subsequent support at 1.6224.
GBP is likely to receive increased market attention, with producer price index data due to be released in the UK, later today.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
