GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.48% against the USD and closed at 1.5314.
In the Asian session, at GMT0400, the pair is trading at 1.5337, with the GBP trading 0.15% higher from Friday’s close.
Over the weekend, the BoE Governor, Mark Carney, stated that British households should brace themselves for an interest rate hike, although it is not guaranteed. He further reiterated that increase in interest rates would be modest and gradual.
The pair is expected to find support at 1.5288, and a fall through could take it to the next support level of 1.5239. The pair is expected to find its first resistance at 1.5403, and a rise through could take it to the next resistance level of 1.5469.
Going ahead, market participants will look forward to UK’s BBA mortgage approvals data for September, scheduled to be released in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
