GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.26% against the USD and closed at 1.5583.
Yesterday, BoE’s Martin Weale projected wages to rise in the UK in 2015 and more permanent jobs to be created, amid a stronger economic recovery.
In the Asian session, at GMT0400, the pair is trading at 1.5592, with the GBP trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.5554, and a fall through could take it to the next support level of 1.5516. The pair is expected to find its first resistance at 1.5648, and a rise through could take it to the next resistance level of 1.5704.
Trading trends in the Pound today are expected to be determined by Britain’s final GDP reading to confirm if the pace of economic growth in the UK remained robust for the third quarter, set for release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
