GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell marginally against the USD and closed at 1.6686.
In the Asian session, at GMT0300, the pair is trading at 1.6686, with the GBP trading flat from yesterday’s close.
The pair is expected to find support at 1.6661, and a fall through could take it to the next support level of 1.6637. The pair is expected to find its first resistance at 1.6704, and a rise through could take it to the next resistance level of 1.6723.
Going forward, investors would look at the crucial Q2 GDP of the UK, scheduled in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
