GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.23% against the USD and closed at 1.5680, as concerns over rising Spanish borrowing costs and sovereign debt contagion in the Euro-zone continued to dampen investor confidence.
The Pound was also weighed by speculation that the Bank of England may announce further quantitative easing measures, as investors looked ahead to Wednesday’s minutes from the central bank’s June meeting.
In the Asian session, at GMT0300, the pair is trading at 1.5690, with the GBP trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.5645, and a fall through could take it to the next support level of 1.5600. The pair is expected to find its first resistance at 1.5727, and a rise through could take it to the next resistance level of 1.5765.
Trading trends in the pair today are expected to be determined by the release of consumer price index and retail price index and DCLG house price index in the UK.
