GBPUSD Movement
For the 24 hours to 23:00 GMT on Friday, GBP rose 0.97% against the USD and closed at 1.5698.
In the UK, the visible trade deficit widened to £10.1 billion in April, compared to a deficit of £8.7 billion in March.
In the Asian session, at GMT0300, the pair is trading at 1.5709, with the GBP trading 0.07% higher from Friday’s close. This morning, in the UK, Rightmove House Price index rose 1.0% (MoM) in June, making it third consecutive monthly increase.
The pair is expected to find support at 1.5542, and a fall through could take it to the next support level of 1.5376. The pair is expected to find its first resistance at 1.5809, and a rise through could take it to the next resistance level of 1.5909.
Markets are eyeing Bank of England Deputy Governor, Paul Tucker, speech to offer guidelines to the Sterling.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
