GBP/USD: Pound trading on a weaker footing, ahead of key economic releases in the UK


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.63% against the USD and closed at 1.3814.

In the Asian session, at GMT0400, the pair is trading at 1.3805, with the GBP trading 0.07% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.3755, and a fall through could take it to the next support level of 1.3704. The pair is expected to find its first resistance at 1.3883, and a rise through could take it to the next resistance level of 1.3960.

Trading trend in the Pound today is expected to be determined by the release of UK’s total trade balance, industrial and manufacturing production data, all for January, slated to release in a few hours. Additionally, the nation’s NIESR GDP estimate for the three months to February, will also be on investors’ radar.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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