GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 1.10% against the USD, on Friday, and closed at 1.5968, after economic reports showed that the public sector net borrowing rose less than expected in September. The public sector net borrowing, in the UK, increased to £11.384 billion in September, compared to £10.93 billion in the previous month. Market had expected a rise to £11.80 billion in September.
In the Asian session, at GMT0300, the pair is trading at 1.5954, with the GBP trading 0.09% lower from Friday’s close.
The pair is expected to find support at 1.5814, and a fall through could take it to the next support level of 1.5674. The pair is expected to find its first resistance at 1.6034, and a rise through could take it to the next resistance level of 1.6114.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
