GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.83% against the USD and closed at 1.3270.
Macroeconomic data indicated that UK’s retail sales climbed more than estimated by 1.3% on a monthly basis in May, as good weather conditions and the royal wedding, boosted consumer spending. Markets had envisaged for a rise of 0.5%, after a recording a revised increase of 1.8%, in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3254, with the GBP trading 0.12% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3184, and a fall through could take it to the next support level of 1.3113. The pair is expected to find its first resistance at 1.3386, and a rise through could take it to the next resistance level of 1.3517.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
