GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.10% against the USD and closed at 1.4480.
In the Asian session, at GMT0300, the pair is trading at 1.4491, with the GBP trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 1.4438, and a fall through could take it to the next support level of 1.4385. The pair is expected to find its first resistance at 1.4546, and a rise through could take it to the next resistance level of 1.4601.
Going ahead, market participants will look forward to Britain’s public sector net borrowing data for April, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
