GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.67% against the USD and closed at 1.6102.
Yesterday, the BoE Deputy Governor, Jon Cunliffe stated that new regulations governing banks and financial institutions must be applied consistently across the globe in order to avoid another banking crisis. He further warned that a lack of mutual trust among those responsible for implementation of the reforms would have damaging consequences.
In the Asian session, at GMT0300, the pair is trading at 1.6080, with the GBP trading 0.14% lower from yesterday’s close.
The pair is expected to find support at 1.5977, and a fall through could take it to the next support level of 1.5874. The pair is expected to find its first resistance at 1.6147, and a rise through could take it to the next resistance level of 1.6214.
Trading trends in the Pound today are expected to be determined by economic releases from other countries.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
