GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.49% against the USD and closed at 1.5299. The US Dollar came under pressure, after economic data revealed that the US housing sector still faces setbacks long its road to recovery.
In the Asian session, at GMT0300, the pair is trading at 1.5256, with the GBP trading 0.28% lower from yesterday’s close.
The pair is expected to find support at 1.5212, and a fall through could take it to the next support level of 1.5167. The pair is expected to find its first resistance at 1.5300, and a rise through could take it to the next resistance level of 1.5343.
In the UK today, public sector net borrowing and the CBI business optimism data would be closely watched by traders.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
