GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.20% against the USD and closed at 1.5954.
The greenback declined against the Pound, as the Federal Reserve signaled low interest rates to continue triggering a risk on flight by investors.
In the UK, goods trade deficit widened to £8.8 billion in February, compared with a revised deficit of £7.9 billion in January.
In the Asian session, at GMT0300, the pair is trading at 1.5943, with the GBP trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 1.5910, and a fall through could take it to the next support level of 1.5876. The pair is expected to find its first resistance at 1.5981, and a rise through could take it to the next resistance level of 1.6018.
The pair is expected to trade on the cues from the release of Producer Price Index (PPI) in the UK.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
