GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.13% against the USD and closed at 1.5835, amid persistent concerns over the faltering economic recovery in the UK.
In the Asian session, at GMT0400, the pair is trading at 1.5857, with the GBP trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 1.5810, and a fall through could take it to the next support level of 1.5762. The pair is expected to find its first resistance at 1.5900, and a rise through could take it to the next resistance level of 1.5942.
Trading trends in the pair today are expected to be determined by the release of public sector net borrowing and CBI industrial trends survey – orders in the UK.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
