GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.25% against the USD and closed at 1.6234, as lingering worries about the Spain’s debt crisis weighed on investors’ sentiments.
In the Asian session, at GMT0300, the pair is trading at 1.6230, with the GBP trading 0.03% lower from yesterday’s close.
The pair is expected to find support at 1.6200, and a fall through could take it to the next support level of 1.6171. The pair is expected to find its first resistance at 1.6280, and a rise through could take it to the next resistance level of 1.6331.
Trading trends in the pair today are expected to be determined by manufacturing Purchasing Manager Index (PMI) in the UK.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
