GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.58% against the USD and closed at 1.5263.
Yesterday, the President of the Chicago Federal Reserve Bank, Charles Evans, stated that the central bank’s policy stance is appropriate and that the US economy still faces challenges.
In the Asian session, at GMT0300, the pair is trading at 1.5257, with the GBP trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.5198, and a fall through could take it to the next support level of 1.5138. The pair is expected to find its first resistance at 1.5300, and a rise through could take it to the next resistance level of 1.5342.
Sterling is expected to take cues from the outcome of the consumer price index, producer price index and the monthly retail price index data due later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
