GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.15% against the USD and closed at 1.5706.
The Pound remained buoyant a day after upbeat UK employment data lifted investor sentiment over the outlook for second quarter economic growth.
In the Asian session, at GMT0300, the pair is trading at 1.5698, with the GBP trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.5649, and a fall through could take it to the next support level of 1.5599. The pair is expected to find its first resistance at 1.5743, and a rise through could take it to the next resistance level of 1.5787.
Trading trends in the pair today are expected to be determined by the CB leading economic index scheduled for release later today.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
