The GBP has been fairly static, but may show some signs of life in the coming week, due to the Bank of England rate decision. Inflation in the UK jumped back to 4%, from 3.9%, reversing sharp recent falls. This will only encourage the Bank of England to leave interest rates ‘higher for longer’, thus supporting a stronger Pound.
Current Level: 0.4823
Resistance: 0.4840
Support: 0.4765
Last Weeks Range: 0.4776 – 0.4828