GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.69% against the USD and closed at 1.5245.
In the Asian session, at GMT0300, the pair is trading at 1.5255, with the GBP trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 1.5195, and a fall through could take it to the next support level of 1.5135. The pair is expected to find its first resistance at 1.5340, and a rise through could take it to the next resistance level of 1.5426.
Going forward, the Sterling investors will keep a close eye on UK’s BBA mortgage approvals data, scheduled in a few hours, to get better insights in the nation’s economy.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
