GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.62% against the USD and closed at 1.6391, ahead of UK consumer inflation data, scheduled for release later today.
In the UK, the Lloyds Bank’s employment confidence index rose to a reading of -12.0 in December, from a reading of -14.0 reported in the earlier month.
In the Asian session, at GMT0400, the pair is trading at 1.6380, with the GBP trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 1.6315, and a fall through could take it to the next support level of 1.6249. The pair is expected to find its first resistance at 1.6478, and a rise through could take it to the next resistance level of 1.6575.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
