Gbp rallied higher

GBP rallied across the board as Mortgage Approvals for the month of February fell less then expectations, prompting traders to trim bets that the BOE will move to cut rates . Pound is expected to trade in the range of 1.9790-1.9940.support is seen at 1.9760 levels and resistance for the same is seen at 1.9970.stochastic is at neutral territory and relative market strength index seems flat thereby giving an indication of the currency to have a mixed note for the day. Currency trading on the fast moving average not giving any confirmation on the trend.