02, April 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

The pair opened the week almost at the same price which was closed on Friday and is now trading near the resistance level - 1.5120.

Surveys results of the UK largest producers in March will be an important indicator of economic growth in the 1st quarter of 2013 and beyond. Moreover, this data can be a decisive factor in determining whether the Bank of England will stimulate the economy further or not.

During the last two meetings of the monetary policy of the Bank three of the nine members of the committee voted for such a program.

Some economists believe that the bank is unlikely to change its policy.