GBPUSD Movement
For the 24 hours to 23:00 GMT on Friday, GBP rose 0.39% against the USD and closed at 1.5877.
The Bank of England policymaker, Martin Weale, has stated that the UK’s economy looks likely to have expanded in the first quarter.
Meanwhile, in economic news, the British Bankers’ Association (BBA) reported that mortgage approvals for house purchase in the UK fell to 33,103 in February, compared to a downwardly revised approvals of 37,977 recorded in January.
In the Asian session, at GMT0300, the pair is trading at 1.5868, with the GBP trading 0.05% lower from Friday’s close.
The pair is expected to find support at 1.5813, and a fall through could take it to the next support level of 1.5758. The pair is expected to find its first resistance at 1.5916, and a rise through could take it to the next resistance level of 1.5964.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
