GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.60% against the USD and closed at 1.5513, as risk aversion increased among the investors.
In the Asian session, at GMT0300, the pair is trading at 1.5520, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.5474, and a fall through could take it to the next support level of 1.5429. The pair is expected to find its first resistance at 1.5577, and a rise through could take it to the next resistance level of 1.5635.
Trading trends in the pair today are expected to be determined by the release of BBA mortgage approvals data in the UK.
The currency pair is showing convergence with its 20 Hr moving average and trading well below its 50 Hr moving average.
