GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.3% against the USD and closed at 1.3980.
In economic news, UK’s public-sector net borrowing posted a surplus of £0.3 billion in March, compared to a revised surplus of £0.4 billion in the previous month, while market participants had expected a deficit of £1.3 billion.
Other data revealed that the nation’s CBI industrial trends total orders remained steady at a level of 4.0 in April, meeting market expectations.
In the Asian session, at GMT0300, the pair is trading at 1.3981, with the GBP trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3935, and a fall through could take it to the next support level of 1.3889. The pair is expected to find its first resistance at 1.4012, and a rise through could take it to the next resistance level of 1.4043.
With no macroeconomic releases in the UK today, investor sentiment would be determined by global macroeconomic events.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
