GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP marginally declined against the USD and closed at 1.3513.
In the Asian session, at GMT0300, the pair is trading at 1.3523, with the GBP trading 0.07% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3477, and a fall through could take it to the next support level of 1.3432. The pair is expected to find its first resistance at 1.3560, and a rise through could take it to the next resistance level of 1.3598.
Looking forward, traders will keep a close watch on UK’s retail sales data for August, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
