GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.60% against the USD and closed at 1.5428.
In the Asian session, at GMT0300, the pair is trading at 1.5428, with the GBP trading flat from yesterday’s close.
Overnight data showed that Britain’s GfK consumer confidence remained steady at a level of 4.00 in April, in line with market forecast.
The pair is expected to find support at 1.5340, and a fall through could take it to the next support level of 1.5251. The pair is expected to find its first resistance at 1.5508, and a rise through could take it to the next resistance level of 1.5588.
With no major macroeconomic releases in the UK today, the nation’s Markit manufacturing PMI and mortgage approvals data, scheduled tomorrow will attract market attention.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
