GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.47% against the USD and closed at 1.5920, reversing its previous session losses.
In the Asian session, at GMT0400, the pair is trading at 1.5911, with the GBP trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 1.5848, and a fall through could take it to the next support level of 1.5786. The pair is expected to find its first resistance at 1.5960, and a rise through could take it to the next resistance level of 1.6010.
Looking ahead, investors await the UK’s ILO unemployment rate, scheduled in a few hours. Meanwhile, the BoE’s quarterly inflation report will attract considerable market attention, scheduled later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
