GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.22% against the USD and closed at 1.4482.
In economic news, UK’s CBI industrial trends total orders unexpectedly improved to a level of -11.0 in April, from a reading of -14.0 in the previous month. Investors had expected it to fall to a level of -17.0. On the other hand, the CBI business optimism index recorded a level of -5.0 in April, compared to a reading of -4.0 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.4501, with the GBP trading 0.13% higher from yesterday’s close.
The pair is expected to find support at 1.4429, and a fall through could take it to the next support level of 1.4357. The pair is expected to find its first resistance at 1.4547, and a rise through could take it to the next resistance level of 1.4592.
Moving ahead, investors will look forward to Britain’s BBA mortgage approvals data for March, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
