GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.42% against the USD and closed at 1.5575, amid signs that the Bank of England may adopt more stimulus measures.
The pair opened the Asian session at 1.5575, and is trading at 1.5599 at 3.00GMT. GBP is trading 0.15% higher versus USD from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.5668, followed by the next resistance at 1.5738. The first support is at 1.5539, with the subsequent support at 1.5480.
Trading trends in the pair today are expected to be determined by release of money supply and mortgage approvals data in the UK.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
