GBP Weakened

GBP weakened overnight as speculation grows the BOE will cut interest rates on Thursday to help stimulate the slowing economy. Pound is expected to trade in the range of 1.9820-1.9995.With good support seen at 1.9800 and resistance seen at 2.006.Currency is expected to give a small downside correction for the day but would be seen giving a range bound movement for the day. It is trading well below the fast and slow moving averages.