GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.29% against the USD and closed at 1.5514.
Yesterday, the BoE’s Chief Economist Andy Haldane indicated that the central bank has formed a special taskforce to keep a close eye on internet and social networking websites to ascertain the trend of Britain’s economic recovery in the future. He further added that the central bank has already created a new advanced analytics team which is building models, algorithms and methods for mining the data.
In the Asian session, at GMT0400, the pair is trading at 1.5520, with the GBP trading tad higher from yesterday’s close.
The pair is expected to find support at 1.5488, and a fall through could take it to the next support level of 1.5455. The pair is expected to find its first resistance at 1.5570, and a rise through could take it to the next resistance level of 1.5620.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
