GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.09% against the USD and closed at 1.6347.
In the Asian session, at GMT0400, the pair is trading at 1.6332, with the GBP trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 1.6303, and a fall through could take it to the next support level of 1.6273. The pair is expected to find its first resistance at 1.6373, and a rise through could take it to the next resistance level of 1.6413.
Trading trends in the pair today are expected to be determined by crucial retail sales from the UK, which would be closely followed against the backdrop of slower than expected sales reported by the BRC last week.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
