GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.83% against the USD, on Friday, and closed at 1.6070.
In the UK, the Output Price Index rose 5.7% (Y-o-Y) in October, compared to a 6.3% increase in September.
In the Asian session, at GMT0400, the pair is trading at 1.6070, with the GBP trading flat from Friday’s close.
The pair is expected to find support at 1.5946, and a fall through could take it to the next support level of 1.5822. The pair is expected to find its first resistance at 1.6144, and a rise through could take it to the next resistance level of 1.6218.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
