GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 1.01% against the USD and closed at 1.4157.
In the Asian session, at GMT0400, the pair is trading at 1.4135, with the GBP trading 0.16% lower from yesterday’s close.
The pair is expected to find support at 1.4078, and a fall through could take it to the next support level of 1.4021. The pair is expected to find its first resistance at 1.4238, and a rise through could take it to the next resistance level of 1.4340.
Going ahead, market participants will look forward to UK’s ILO unemployment rate data for January, scheduled to release in a few hours. Additionally, investors will also have their sight set on the UK Chancellor, George Osborne’s budge report presentation, due later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
