The GBP has been supported by a hawkish Bank of England monetary policy for much of 2023, but had signalled a more neutral 2024. The rebound in inflation in the UK in early 2024, will only serve to reinforce the Central Banks tight policy and add support for the Pound. The cross rate is likely to have a downward bias on the short term.
Current Level: 2.0920
Resistance: 2.0618
Support: 2.1052
Last Weeks Range: 2.0618- 2.0920