GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.35% against the USD and closed at 1.2830.
On the macro front, UK’s public sector net borrowing posted a more-than-expected deficit of £4.4 billion in March, after recording a revised surplus of £0.7 billion in the previous month, whereas markets were expecting a deficit of £1.5 billion.
In the Asian session, at GMT0300, the pair is trading at 1.2840, with the GBP trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2794, and a fall through could take it to the next support level of 1.2749. The pair is expected to find its first resistance at 1.2865, and a rise through could take it to the next resistance level of 1.2891.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
