GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.16% against the USD and closed at 1.2558.
In the Asian session, at GMT0300, the pair is trading at 1.2562, with the GBP trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2522, and a fall through could take it to the next support level of 1.2482. The pair is expected to find its first resistance at 1.2586, and a rise through could take it to the next resistance level of 1.2610.
Looking ahead, traders would await UK’s house price index for April, the CBI trends total orders for June, consumer price index and retail price index, both for May, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
