GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.18% against the USD and closed at 1.5414, reversing its previous session gains.
In economic news, the CBI trends selling prices registered an unexpected rise to a level of 8.00 in February, compared to a level of -6.00 in the previous month, while markets were anticipating it to ease to a level of -7.00.
In the Asian session, at GMT0400, the pair is trading at 1.5433, with the GBP trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 1.5402, and a fall through could take it to the next support level of 1.5371. The pair is expected to find its first resistance at 1.5465, and a rise through could take it to the next resistance level of 1.5498.
Looking ahead, market participants await Britain’s retail sales data, scheduled in few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
