GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.44% against the USD and closed at 1.5584.
In the Asian session, at GMT0300, the pair is trading at 1.5586, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.5544, and a fall through could take it to the next support level of 1.5503. The pair is expected to find its first resistance at 1.5658, and a rise through could take it to the next resistance level of 1.5731.
Trading trends in the Sterling today are expected to be determined by the crucial UK consumer prices data for July, which is widely expected to fall by 0.3% after staying unchanged in the previous month, slated to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
