GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.09% against the USD and closed at 1.5477.
In the UK, the British Retail Consortium (BRC) reported that shop price inflation retreated to 1.7% (MoM) in December, from 2.0% in November, while, on a like-for-like annual basis, retail sales climbed 2.2% in December. Meanwhile, the Royal Institution of Chartered Surveyors reported that the house price balance index rose unexpectedly to a reading of -16.0 in December on a seasonally adjusted basis.
In the Asian session, at GMT0400, the pair is trading at 1.5458, with the GBP trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 1.5436, and a fall through could take it to the next support level of 1.5414. The pair is expected to find its first resistance at 1.5490, and a rise through could take it to the next resistance level of 1.5523.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
