GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.27% against the USD and closed at 1.7092.
Yesterday, a private survey conducted by Reuters, revealed that the BoE is expected to raise its key rates from their record low of 0.5%, until early next year.
In the Asian session, at GMT0300, the pair is trading at 1.7096, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.7071, and a fall through could take it to the next support level of 1.7046. The pair is expected to find its first resistance at 1.7133, and a rise through could take it to the next resistance level of 1.7170.
With no releases from the UK scheduled today, next week’s BoE minutes and GDP data would grab investor attention.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
