GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.30% against the USD and closed at 1.5485, as investor risk appetite decreased after reports indicated that economies across the Euro-zone contracted more than expected in the fourth quarter of 2012.
In the Asian session, at GMT0400, the pair is trading at 1.5518, with the GBP trading 0.21% higher from yesterday’s close.
The pair is expected to find support at 1.5484, and a fall through could take it to the next support level of 1.5449. The pair is expected to find its first resistance at 1.5543, and a rise through could take it to the next resistance level of 1.5567.
Trading trends in the pair today are expected to be determined by the release of retail sales data in the UK.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
