GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 1.14% against the USD and closed at 1.5908.
In the UK, the overall trade balance, including goods and services trade deficit widened to £3.9 billion in September, from £2.7 billion for the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.5916, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.5841, and a fall through could take it to the next support level of 1.5765. The pair is expected to find its first resistance at 1.6054, and a rise through could take it to the next resistance level of 1.6191.
Investors are eying the Bank of England (BoE) interest rate decision along with other economic releases in the UK to be released later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
