GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.17% against the USD and closed at 1.5743, as risk appetite rose amid optimism that Greece may secure a debt swap deal and on positive US private-sector jobs data.
In the US, the Automatic Data Processing, Inc. (ADP) reported that private sector employment climbed by 216,000 jobs in February, following an upwardly revised increase of 173,000 jobs in January
In the Asian session, at GMT0400, the pair is trading at 1.5747, with the GBP trading 0.02% higher from yesterday’s close.
The pair is expected to find support at 1.5710, and a fall through could take it to the next support level of 1.5673. The pair is expected to find its first resistance at 1.5772, and a rise through could take it to the next resistance level of 1.5796.
The British Pound is likely to receive increased market attention, with Bank of England (BoE) interest rate decision due to be released later today.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
