GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.52% against the USD and closed at 1.5959, as the dollar weakened, amid speculation that the Federal Reserve would maintain easy monetary policy to sustain growth in the US economy.
In the Asian session, at GMT0300, the pair is trading at 1.5959, with the GBP trading flat from yesterday’s close.
The pair is expected to find support at 1.5849, and a fall through could take it to the next support level of 1.5739. The pair is expected to find its first resistance at 1.6021, and a rise through could take it to the next resistance level of 1.6084.
Trading trends in the pair today are expected to be determined by CBI reported sales data in the UK.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
