GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell marginally against the USD and closed at 1.6125, in subdued trade, as concerns that the US officials would not manage to conclude a deal in order to avoid a fiscal crisis continued to dominate market sentiment.
In the Asian session, at GMT0400, the pair is trading at 1.6135, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.6105, and a fall through could take it to the next support level of 1.6076. The pair is expected to find its first resistance at 1.6168, and a rise through could take it to the next resistance level of 1.6201.
Trading trends in the pair today are expected to be determined by the release of Nationwide housing prices and BBA mortgage approvals in the UK.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
