GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.21% against the USD and closed at 1.5774, extending its previous session gains.
In the Asian session, at GMT0300, the pair is trading at 1.5774, with the GBP trading flat from yesterday’s close.
The pair is expected to find support at 1.5735, and a fall through could take it to the next support level of 1.5695. The pair is expected to find its first resistance at 1.5815, and a rise through could take it to the next resistance level of 1.5855.
With no economic releases in the UK today, market participants await the release of Britain’s CPI data, scheduled next week.
The currency pair is showing convergence with its 20 Hr moving average but trading above its 50 Hr moving average.
