GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.53% against the USD and closed at 1.6247 on Monday.
On Tuesday, the US Senate passed a bill that aims to avoid the cliff’s automatic implementation of $600 billion in spending cuts and tax increases.
In the Asian session, at GMT0400, the pair is trading at 1.632, with the GBP trading 0.45% higher from Monday’s close.
The pair is expected to find support at 1.6175, and a fall through could take it to the next support level of 1.6029. The pair is expected to find its first resistance at 1.6424, and a rise through could take it to the next resistance level of 1.6529.
The Halifax house price and purchasing managers’ index (PMI) manufacturing data are the key economic indicator scheduled for release today in the UK.
The currency pair is trading well above its 20 Hr and its 50 Hr moving averages.
