GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.21% against the USD, on Friday, and closed at 1.5661.
In the UK, the input Producer Price Index (PPI) rose 13.4% (YoY) in November, compared to 14.3% rise in the previous month. Meanwhile, the output PPI rose 5.4% (YoY) in November, compared to 5.7% rise in the previous month. The trade deficit declined to £4.55 billion in October, from a deficit of £5.71 billion in September.
In the Asian session, at GMT0400, the pair is trading at 1.5637, with the GBP trading 0.16% lower from Friday’s close.
The pair is expected to find support at 1.5570, and a fall through could take it to the next support level of 1.5503. The pair is expected to find its first resistance at 1.5719, and a rise through could take it to the next resistance level of 1.5802.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
