FXstreet.com (Sydney) - The GBP/USD oscillated within a narrow range to close at 1.6433. The pair is currently trading at 1.6419 which represents a change of 0.29% for the week. On the down side there are supports at 1.6250 while on the upside there is resistance at 1.6700. The pair is expected to show a sideways bias in way for major announcements to be made on both side of the Atlantic in the coming days.

In the UK, the BoE meets on November 5 to decide if it is to extend its asset purchase, while Lloyds will join the Bank of Scotland in selling some of their businesses to limit their reliance on the government support. In the US, unemployment data is due on Friday. Analysts expect a rise from a 26-year high of 9.8 in September.