GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.52% against the USD and closed at 1.4748.
In the Asian session, at GMT0400, the pair is trading at 1.4761, with the GBP trading 0.09% higher from yesterday’s close.
The pair is expected to find support at 1.4707, and a fall through could take it to the next support level of 1.4653. The pair is expected to find its first resistance at 1.4831, and a rise through could take it to the next resistance level of 1.4901.
Looking ahead, investors will keep a tab on Britain’s employment survey for the three months ended January, scheduled in a few hours which is anticipated to show that hiring pace in the nation remained robust. Meanwhile, the BoE’s minutes from its latest monetary policy meeting would also generate enough market attention.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
