Forex: GBP/USD continues to plummet after BoE (Barcelona) - Sterling has been plumetting 0.47% agaisnt the greenback during most of the early European session and after the BoE's interest rate decision. The Bank Rate remained unchaged at 0.5% and the Asset Purchase Facility is still at 325 billion pounds. Earlier today, new figures for industrial and manufacturing production gave a bleak picture of the British economy. Manufacturing production fared worse than expected with monthly and yearly contractions of 1.0% and 1.4%, respectively. The YoY performance of industrial production came out as forecasted, with a 2.3% drop, less worse than the previous -4.0%. On the bright side, MoM industrial production growth overperformed forecasts with a 0.4% increase.

The pair is currently trading at 1.5827, with resistance at 1.5845, ahead of 1.5885 and 1.5924, according to pivot points on technical tools. On the downside, there is support at 1.5826, before 1.5786 and 1.5747.