GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.18% against the USD and closed at 1.5356.
Yesterday, the BoE, in a widely expected move, kept its benchmark interest rates unchanged at an all-time low of 0.5%, maintaining it at this level since March 2009. Additionally, the central bank left the size of its asset purchases unchanged at £375 billion.
In the Asian session, at GMT0300, the pair is trading at 1.5362, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.5296, and a fall through could take it to the next support level of 1.5230. The pair is expected to find its first resistance at 1.5435, and a rise through could take it to the next resistance level of 1.5509.
Meanwhile, Britain’s consumer inflation expectations survey report, scheduled in a few hours, would grab significant market attention.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
