GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.10% against the USD and closed at 1.5095. The US dollar strengthened in yesterday’s session, on the back of lingering speculation that the Federal Reserve would soon start tapering its asset purchase program.
In the Asian session, at GMT0300, the pair is trading at 1.5106, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.5046, and a fall through could take it to the next support level of 1.4987. The pair is expected to find its first resistance at 1.5147, and a rise through could take it to the next resistance level of 1.5189.
In today’s trading session, the UK consumer and producer prices data are the key economic releases on tap.
The currency pair is showing convergence with its 50 Hr moving average and is trading just above its 20 Hr moving average.
