GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.52% against the USD and closed at 1.5365, amid comments by the UK Prime Minister, David Cameron, that the country’s economy is improving and may provide scope for the UK government to reduce taxes.
In the Asian session, at GMT0300, the pair is trading at 1.5372, with the GBP trading slightly higher from yesterday’s close.
The pair is expected to find support at 1.5295, and a fall through could take it to the next support level of 1.5219. The pair is expected to find its first resistance at 1.5417, and a rise through could take it to the next resistance level of 1.5463.
The British Bankers Association (BBA) is set to release its monthly report on house purchases later today. The number of homes sold is expected to increase further in June.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
