GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 1.28% against the USD and closed at 1.5690, as risk appetite improved on optimism that European policy makers would take measures to contain the region’s debt crisis.
In the UK, Prime Minister, David Cameron, insisted that the government would “finish the job” of getting Britain’s debt under control, after disappointing growth figures.
In the Asian session, at GMT0300, the pair is trading at 1.5679, with the GBP trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 1.5525, and a fall through could take it to the next support level of 1.5372. The pair is expected to find its first resistance at 1.5778, and a rise through could take it to the next resistance level of 1.5878.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
