GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.06% against the USD and closed at 1.5511.
Yesterday, the BOE Deputy Governor, Sir John Cunliffe, expressed confidence over the UK economy and opined that the central bank should start raising benchmark interest rates gradually.
In the Asian session, at GMT0300, the pair is trading at 1.5524, with the GBP trading 0.09% higher from yesterday’s close.
The pair is expected to find support at 1.5480, and a fall through could take it to the next support level of 1.5436. The pair is expected to find its first resistance at 1.5569, and a rise through could take it to the next resistance level of 1.5614.
Moving ahead, Britain’s public sector net borrowing data, scheduled in a few hours would be closely monitored by market participants.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
