GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.14% against the USD and closed at 1.4626.
In the Asian session, at GMT0300, the pair is trading at 1.4689, with the GBP trading 0.43% higher from yesterday’s close.
Overnight data showed that UK’s Lloyds business barometer declined to a three-year low level of 32.0 in May, from a reading of 38.0 in the previous month.
The pair is expected to find support at 1.4616, and a fall through could take it to the next support level of 1.4542. The pair is expected to find its first resistance at 1.4732, and a rise through could take it to the next resistance level of 1.4774.
Going ahead, market participants will look forward to UK’s Markit manufacturing PMI and consumer credit data, scheduled to release tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
