GBPUSD Movement
For the 24 hours to 23:00 GMT on Friday, GBP rose 0.19% against the USD and closed at 1.6249.
In economic news, on a seasonally adjusted basis, public sector net borrowing (PSNB) in the UK rose less-than-expected to £12.4 billion in August. Analysts had expected PSNB to rise to £13.3 billion.
In the Asian session, at GMT0300, the pair is trading at 1.6208, with the GBP trading 0.25% lower from Friday’s close.
The pair is expected to find support at 1.6168, and a fall through could take it to the next support level of 1.6129. The pair is expected to find its first resistance at 1.6278, and a rise through could take it to the next resistance level of 1.6349.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
