GBP fell against the majors as the BOE confirmed speculation by announcing a plan to relieve the liquidity problems in the UK financial network by accepting at least 50 billion pounds of mortgage-backed securities in exchange for UK Treasury bills to lower credit costs and help revive lending by banks.
technical view
Pound is seen on bull run for the day. currency lends its support at 1.9720 levels and holds resistance at 1.9880 levels. the trading range is expected between 1.97300-1.9875 levels. RSI indicates the currency strong . Momentum is trending towards upside and tunes currency to be on upper side for the day.
Pound is seen on bull run for the day. currency lends its support at 1.9720 levels and holds resistance at 1.9880 levels. the trading range is expected between 1.97300-1.9875 levels. RSI indicates the currency strong . Momentum is trending towards upside and tunes currency to be on upper side for the day.
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