The Bank of England remains hawkish, as they attempt to get runaway inflation under control. How much, these rising interest rates hit the consumer and the economy, will be the big question. UK GDP growth, this coming week, will be a window into the state of the economy. Higher interest rates will drive the GBP higher, but recessionary pressures should counter-balance the pressure.
Current Level: 0.5192 (1.9260)
Resistance: 0.5235 (1.9102)
Support: 0.5115 (1.9550)
Last Weeks Range: 0.5160-0.5220 (1.9380-1.9160)