GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.78% against the USD and closed at 1.4486.
In economic news, UK’s CBI industrial trends orders unexpectedly rose to a five-month high level of -8.0 in May, compared to market expectations of a fall to -13.0 and following a reading of -11.0 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.4506, with the GBP trading 0.14% higher from Friday’s close.
The pair is expected to find support at 1.4454, and a fall through could take it to the next support level of 1.4401. The pair is expected to find its first resistance at 1.4586, and a rise through could take it to the next resistance level of 1.4665.
Amid no economic releases in Britain today, investors await the release of the nation’s public sector net borrowing data for April, scheduled for release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
