GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.23% against the USD and closed at 1.6133.
However, the greenback’s gains against the Pound was kept in check after Chicago Fed President, Charles Evans, hinted that the Fed might takes months to taper its asset purchase programme, as a government shutdown in the US had sparked uncertainty over the economic condition of the nation.
In the Asian session, at GMT0300, the pair is trading at 1.6121, with the GBP trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 1.6097, and a fall through could take it to the next support level of 1.6073. The pair is expected to find its first resistance at 1.6164, and a rise through could take it to the next resistance level of 1.6207.
Traders are awaiting the Bank of England (BoE) member, Charlie Bean’s speech and a report on UK’s public sector net borrowing, due later today, for further guidance in the UK pound.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
