GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.06% against the USD and closed at 1.6842, in a holiday-thin trading session on account of a Spring Bank holiday in the UK and a Memorial Day holiday in the US.
In the Asian session, at GMT0300, the pair is trading at 1.6862, with the GBP trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 1.6838, and a fall through could take it to the next support level of 1.6813. The pair is expected to find its first resistance at 1.6879, and a rise through could take it to the next resistance level of 1.6895.
Market participants keenly await the release of the UK BBA mortgage approvals and the US durable goods orders data further cues in the currency pair.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
