GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.36% against the USD and closed at 1.5779.
In the UK, the public sector net borrowing swung to a surplus of £10.7 billion in January, marking the highest monthly budget surplus since January 2008. Also, the net borrowing, excluding financial interventions, swung to a surplus of £7.8 billion in January, compared to a deficit of £14.0 billion in December.
In the Asian session, at GMT0400, the pair is trading at 1.5784, with the GBP trading 0.03% higher from yesterday’s close.
The pair is expected to find support at 1.5743, and a fall through could take it to the next support level of 1.5703. The pair is expected to find its first resistance at 1.5845, and a rise through could take it to the next resistance level of 1.5906.
British Pound is likely to receive increased market attention, with Bank of England (BoE) Minutes due to be released later today.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
