GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.16% against the USD and closed at 1.5707.
On the macro front, Britain’s BBA mortgage approvals advanced to 42.53 K in May, lower than market expectations of an advance to 43.35 K. In the previous month, mortgage approvals had registered a revised reading of 42.02 K.
In the Asian session, at GMT0300, the pair is trading at 1.5699, with the GBP trading a tad lower from yesterday’s close.
The pair is expected to find support at 1.5642, and a fall through could take it to the next support level of 1.5585. The pair is expected to find its first resistance at 1.5781, and a rise through could take it to the next resistance level of 1.5863.
The currency pair is trading below 20 Hr and 50 Hr moving averages.
