GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.44% against the USD and closed at 1.5718.
In the UK, retail sales on a seasonally adjusted basis rose 0.3% (MoM) in June, against the market expectation of a 0.4% rise.
In the Asian session, at GMT0300, the pair is trading at 1.5708, with the GBP trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 1.5651, and a fall through could take it to the next support level of 1.5593. The pair is expected to find its first resistance at 1.5752, and a rise through could take it to the next resistance level of 1.5795.
Trading trends in the pair today are expected to be determined by the release of public finances data in the UK.
The currency pair is showing convergence with its 20 Hr and trading well above its 50 Hr moving average.
