GBPUSD Movement
On Friday, the GBP rose 1.22% against the USD and closed at 1.4943.
In economic news, public sector net borrowing in the UK rose to £6.20 billion in February, as compared to market anticipations were for it to register a figure of £7.70 billion.
In the Asian session, at GMT0400, the pair is trading at 1.4951, with the GBP trading a tad higher from Friday’s close.
The pair is expected to find support at 1.4785, and a fall through could take it to the next support level of 1.4619. The pair is expected to find its first resistance at 1.5054, and a rise through could take it to the next resistance level of 1.5158.
Amid a light economic calendar in the UK today, investors look forward to the nation’s crucial consumer prices inflation data, scheduled in few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
