GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.22% against the USD and closed at 1.5759, following reports showing strong UK retail sales data. On an annual basis, the retail sales in the UK rose 0.9% in October, following a 0.5% growth in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.5778, with the GBP trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 1.5722, and a fall through could take it to the next support level of 1.5665. The pair is expected to find its first resistance at 1.5824, and a rise through could take it to the next resistance level of 1.5869.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
