GBP/USD: British Pound trading higher in the morning session


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 11.34% against the USD and closed at 1.1550.

In the Asian session, at GMT0400, the pair is trading at 1.1629, with the GBP trading 0.68% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.1479, and a fall through could take it to the next support level of 1.1329. The pair is expected to find its first resistance at 1.1747, and a rise through could take it to the next resistance level of 1.1865.

Looking ahead, investors would keep a close watch on Britain’s Markit manufacturing and services PMIs, both for March, slated to release in a few hours.

The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.

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