GBPUSD Movement
On Friday, the GBP is trading marginally lower against the USD and closed at 1.5871.
In economic news, public sector net borrowing expanded to a level of £9.4 billion in May, compared to a revised reading of £5.5 billion in the previous month. Markets were expecting it to widen to £10.0 billion.
In the Asian session, at GMT0300, the pair is trading at 1.5892, with the GBP trading 0.13% higher from Friday’s close.
The pair is expected to find support at 1.5852, and a fall through could take it to the next support level of 1.5813. The pair is expected to find its first resistance at 1.5914, and a rise through could take it to the next resistance level of 1.5937.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
