GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.12% against the USD and closed at 1.5202.
In the Asian session, at GMT0400, the pair is trading at 1.5179, with the GBP trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 1.5160, and a fall through could take it to the next support level of 1.5140. The pair is expected to find its first resistance at 1.5214, and a rise through could take it to the next resistance level of 1.5249.
Going ahead, market participants will closely watch UK’s consumer price inflation data for October, scheduled to be released in a few hours, as the data could fuel speculation that interest rates could remain low right through 2016.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
