GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.24% against the USD and closed at 1.5836.
In economic news, the Council of Mortgage Lenders reported that the UK gross mortgage lending declined 14% in January from December.
In the Asian session, at GMT0400, the pair is trading at 1.5841, with the GBP trading 0.04% higher from yesterday’s close.
The pair is expected to find support at 1.5807, and a fall through could take it to the next support level of 1.5772. The pair is expected to find its first resistance at 1.5878, and a rise through could take it to the next resistance level of 1.5915.
The pair is expected to trade on the cues from the release of public finances and public sector net borrowing data in the UK.
The currency pair is converging with its 20 Hr and 50 Hr moving averages.
