GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.12% against the USD and closed at 1.5794.
In the UK, the retail sales rose 0.6% in September, compared to a 0.4% decline in the previous month. Additionally, this morning, the Nationwide Consumer Confidence Index declined in September to 45.0 from the August reading of 48.0.
In the Asian session, at GMT0300, the pair is trading at 1.5804, with the GBP trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.5715, and a fall through could take it to the next support level of 1.5626. The pair is expected to find its first resistance at 1.5859, and a rise through could take it to the next resistance level of 1.5914.
Trading trends in the pair today are expected to be determined by data release on public sector net borrowing in the UK.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
