GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.22% against the USD and closed at 1.5104.
In the Asian session, at GMT0400, the pair is trading at 1.5070, with the GBP trading 0.22% lower from yesterday’s close.
Earlier today, the IMF estimated the UK economy to grow by 2.7% in 2015, while slashed Britain’s economic growth forecast for 2016 to 2.4%.
The pair is expected to find support at 1.5025, and a fall through could take it to the next support level of 1.4979. The pair is expected to find its first resistance at 1.5149, and a rise through could take it to the next resistance level of 1.5227.
Amid lack of economic releases in the UK today, investors await the BoE minutes from its recent monetary policy coupled with Britain’s jobless rate data, slated to release tomorrow.
The pair is trading below its 20 Hr and 50 Hr moving averages.
