GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell marginally against the USD and closed at 1.5163.
In the Asian session, at GMT0400, the pair is trading at 1.5169, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.5138, and a fall through could take it to the next support level of 1.5106. The pair is expected to find its first resistance at 1.5212, and a rise through could take it to the next resistance level of 1.5254.
Later today, UK’s Nationwide house prices, Markit manufacturing PMI and mortgage approvals data are awaited by investors to offer cues on the further movement in the Pound.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
