GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.06% against the USD and closed at 1.6230, as risk aversion increased among investors amid renewed concerns over the ongoing debt crisis in the Euro-zone.
In the Asian session, at GMT0300, the pair is trading at 1.6230, with the GBP trading flat from yesterday’s close.
The pair is expected to find support at 1.6193, and a fall through could take it to the next support level of 1.6157. The pair is expected to find its first resistance at 1.6255, and a rise through could take it to the next resistance level of 1.6280.
In the UK, investors are eyeing the Nationwide house prices and BBA loans for house purchase data due out in the day ahead.
The currency pair is trading between its 20 Hr and 50 Hr moving average.
