GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell marginally against the USD and closed at 1.6125, as lingering worries over European debt crisis, continued to weigh on investors’ sentiment.
In the Asian session, at GMT0300, the pair is trading at 1.6125, with the GBP trading flat from yesterday’s close.
The pair is expected to find support at 1.6090, and a fall through could take it to the next support level of 1.6055. The pair is expected to find its first resistance at 1.6147, and a rise through could take it to the next resistance level of 1.6169.
Trading trends in the pair today are expected to be determined by data release on Nationwide housing prices and public sector net borrowing in the UK.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
