GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.19% against the USD and closed at 1.5079.
Yesterday, the BoE in its first monetary policy meeting of 2015, kept the UK interest rates unchanged at historical low of 0.5%, since March 2009. Additionally, the central bank also kept the size of its bond-buying stimulus programme unchanged at £375 billion.
In the Asian session, at GMT0400, the pair is trading at 1.5094, with the GBP trading 0.1% higher from yesterday’s close.
The pair is expected to find support at 1.5045, and a fall through could take it to the next support level of 1.4997. The pair is expected to find its first resistance at 1.5131, and a rise through could take it to the next resistance level of 1.5168.
Trading trends in the Pound today are expected to be determined by Britain’s industrial and manufacturing production data, set for release in few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
