GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.64% against the USD and closed at 1.5242.
In the UK, Lloyds business barometer index rose to a reading of 41.0 in July from 36.0 in June.
In the Asian session, at GMT0300, the pair is trading at 1.5224, with the GBP trading 0.12% lower from yesterday’s close, ahead of outcome of the Bank of England’s two day meeting starting today.
On the data front, GfK consumer confidence index improved to a reading of -16.0 in July from -21.0 in June.
The pair is expected to find support at 1.5176, and a fall through could take it to the next support level of 1.5129. The pair is expected to find its first resistance at 1.5314, and a rise through could take it to the next resistance level of 1.5405.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
