The Pound traded near its weakest level in almost 2 weeks against the Dollar as the Bank of England started its monthly policy meeting, amid speculation it will keep interest rates at a record low to help boost the economy. The GBP/USD has been trading downwards since last week but has not broken the support at 1.4250 this week and has started to rising. If the price trades below 1.4350 the momentum will be bearish again. Overall, GBP/USD traded with a low of 1.4395 and with a high of 1.4607. Today, interest rate decision by the BOE is expected to remain at 0.5%, Asset Purchase Facility is expected unchanged at 200B.

GBP/USD - Last: 1.4547

Resistance

1.4605

1.4682

1.4750

Support

1.45

1.4395

1.4340

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