GBPUSD QE Please

05 Jul
2012

The BOE increased the Bank of England Asset Purchase program by 50 Billion to 375 Billion Pounds on Thursday.  initially the cross rallied on this news.  Only to fall later with an overall risk off sentiment.  Daily price support can currently be found between today's low at 1.55 and daily price support at 1.5475.  Resistance begins 1.5620.  A hold of the 1.55/1.5475 zone could produce a move higher towards the top of the current range.

Sup     1.55/5475

Res      1.5620