Here is some information regarding this week's GBP/USD range:
Support levels located at 1.6108, 1.5953, and 1.5836
Pivot Point is 1.6225
Resistance levels located at 1.6380, 1.6497, and 1.6652
The range for this week is shown in the GBP/USD weekly chart above. The range has shifted upward and has expanded by 87 points. This weeks major announcements from the U.S. include Trade Balance and Unemployment Claims on Thursday Mar. 10th. Retail Sales and Core Retail Sales will be released on Friday Mar. 11th.
Great Britian's National Statistics will announce Manufacturing Production while the Bank of England prepares to release its Official Bank Rate (Interest Rate) this week Thursday Mar. 10th. PPI Input will be announced the following Friday March 11th.
Currently the GBP/USD rate is floating just above the Pivot Point area. An increase in the Official Bank Rate later on in the week may possibly increase the GBP/USD rate into the Resistance 2 area.