GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.37% against the USD and closed at 1.5296, as investor risk appetite continued to be pressured by global growth concerns.
In the Asian session, at GMT0300, the pair is trading at 1.5303, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.5267, and a fall through could take it to the next support level of 1.523. The pair is expected to find its first resistance at 1.5343, and a rise through could take it to the next resistance level of 1.5382.
The Pound is expected to take further cues from the outcome of a string of economic releases scheduled for release later today in the UK.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
