GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.39% against the USD and closed at 1.5775.
The Bank of England (BoE) October meeting minutes showed that the BoE policymakers unanimously decided to expand quantitative easing by £75.0 billion to £275.0 billion in October.
In the Asian session, at GMT0300, the pair is trading at 1.5743, with the GBP trading 0.20% lower from yesterday’s close.
The pair is expected to find support at 1.5685, and a fall through could take it to the next support level of 1.5628. The pair is expected to find its first resistance at 1.5824, and a rise through could take it to the next resistance level of 1.5906.
Trading trends in the pair today are expected to be determined by data release on retail sales and nationwide consumer confidence in the UK.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
