GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.24% against the USD, on Friday, and closed at 1.6452.
In the UK, the public sector net borrowing, excluding financial interventions, declined to £20.0 million in July, compared to £3.5 billion recorded in the same period last year. Additionally, the public sector net debt stood at £940.1 billion in July, compared to a net debt of £805.5 billion recorded in the same period last year.
The pair opened the Asian session at 1.6475, and is trading at 1.649 at 3.00GMT. The pair is trading 0.23% higher from Friday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6592, followed by the next resistance at 1.6693. The first support is at 1.6415, with the subsequent support at 1.6339.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
