GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.32% against the USD and closed at 1.6264.
The Federal Reserve Bank of St. Louis President, James Bullard, stated that the US economic growth may not meet expectations for 1Q FY2011, but the outlook for the remainder of 2011 remains reasonably strong.
The pair opened the Asian session at 1.6264, and is trading at 1.6246 at 3.00GMT. The pair is trading 0.11% lower from the New York session close.
The pair has its first short term resistance at 1.6329, followed by the next resistance at 1.6412. The first support is at 1.6163, with the subsequent support at 1.6080.
The currency pair is showing convergence with its 20 Hr moving average and its 50 Hr moving average.
