GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.19% against the USD and closed at 1.6194.
In the UK, the number of mortgage approvals for house purchase rose to 30,533 in August, up from 28,750 in July.
Meanwhile, the Bank of England (BoE) Policymaker, Paul Fisher, stated that the BoE’s new scheme to provide banks with cheap funding would boost the supply of credit to the nation’s economy.
In the Asian session, at GMT0300, the pair is trading at 1.6193, with the GBP trading flat from yesterday’s close.
The pair is expected to find support at 1.6162, and a fall through could take it to the next support level of 1.613. The pair is expected to find its first resistance at 1.6246, and a rise through could take it to the next resistance level of 1.6300.
In the UK, investors await Confederation of British Industry (CBI) sales data due out later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
