GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.27% against the USD and closed at 1.6149.
In the Asian session, at GMT0300, the pair is trading at 1.6133, with the GBP trading 0.1% lower from yesterday’s close, after retail sales in the UK plunged highest since March 2011.
The British Retail Consortium’s (BRC) retail sales monitor stated that retail sales in the UK fell 3.3% (YoY) in April, marking the biggest decline since March 2011 and compared to a 1.3% rise in March.
The pair is expected to find support at 1.6111, and a fall through could take it to the next support level of 1.6089. The pair is expected to find its first resistance at 1.6169, and a rise through could take it to the next resistance level of 1.6205.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
