GBP/USD: Pound trading on a positive footing, ahead of Britain’s retail sales data


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP rose 0.61% against the USD and closed at 1.4093.

In the Asian session, at GMT0400, the pair is trading at 1.4117, with the GBP trading 0.17% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.404, and a fall through could take it to the next support level of 1.3963. The pair is expected to find its first resistance at 1.4159, and a rise through could take it to the next resistance level of 1.4201.

Going ahead, traders would focus on UK’s retail sales data scheduled for release in a few hours, which is expected to show a rebound on a monthly basis in January.

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

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