GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.49% against the USD and closed at 1.5661.
In the Asian session, at GMT0300, the pair is trading at 1.5648, with the GBP trading 0.08% lower from yesterday’s close.
The pair is expected to find support at 1.5608, and a fall through could take it to the next support level of 1.5569. The pair is expected to find its first resistance at 1.571, and a rise through could take it to the next resistance level of 1.5773.
Going forward, market participants will keep a tab on Britain’s consumer price and producer price data, scheduled in a few hours for further direction.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
