GBP/USD: Pound trading higher in the Asian session


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP rose 0.18% against the USD and closed at 1.2557.

On Thursday, the Bank of England, in its quarterly credit conditions survey report, disclosed that growth in corporate lending moderated in the first quarter and lenders are expected to tighten supply of unsecured consumer credit in the next three months.

In the Asian session, at GMT0300, the pair is trading at 1.2566, with the GBP trading 0.07% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2530, and a fall through could take it to the next support level of 1.2494. The pair is expected to find its first resistance at 1.2599, and a rise through could take it to the next resistance level of 1.2632.

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

This entry was posted in GBP/USD. Bookmark the permalink.

Comments are closed.