GBPUSD Movement
For the 24 hours to 23:00 GMT on Friday, GBP fell 0.08% against the USD and closed at 1.5585.
The external member of the Bank of England (BoE)’s Monetary Policy Committee, Martin Weale stated that BoE has enough room for enacting another round of quantitative easing.
In the Asian session, at GMT0300, the pair is trading at 1.5584, with the GBP trading flat from Friday’s close.
The pair is expected to find support at 1.5549, and a fall through could take it to the next support level of 1.5514. The pair is expected to find its first resistance at 1.5626, and a rise through could take it to the next resistance level of 1.5669.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
