The Pound fell sharply and more risk aversion should send the pair lower. The pound weakened against the dollar after the Bank of England will keep to more asset purchases to safeguard the economic recovery. The Interest rate decision came out as expected unchanged at 0.5%. Breaking the 1.5730 level may depth the decline. Overall, GBP/USD traded with a low of 1.5729 and a high of 1.5917. Today, the PPI Input is expected at 0.9% vs. 0.1% previously.

GBP/USD - Last: 1.5745

Resistance

1.5850

1.5920

1.5970

Support

1.5725

1.5670

1.5575

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