GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.30% against the USD and closed at 1.6153.
The Bank of England, in its quarterly bulletin, stated that the investors’ uncertainty about inflation rose substantially during the financial crisis, and citied that higher uncertainty reflects investors’ beliefs that the volatility in inflation over the past five years would persist for at least the next few years.
In the Asian session, at GMT0300, the pair is trading at 1.6180, with the GBP trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 1.6109, and a fall through could take it to the next support level of 1.6039. The pair is expected to find its first resistance at 1.6217, and a rise through could take it to the next resistance level of 1.6255.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
