GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.36% against the USD and closed at 1.5112.
In the Asian session, at GMT0400, the pair is trading at 1.5084, with the GBP trading 0.18% lower from yesterday’s close.
Earlier today, the BRC indicated that UK retail sales across all sectors recorded a rise of 0.20% YoY in February lower than market expectations for an advance of 0.50%. In the previous month, retail sales across all sectors had registered a similar rise of 0.2%.
The pair is expected to find support at 1.5045, and a fall through could take it to the next support level of 1.5005. The pair is expected to find its first resistance at 1.5132, and a rise through could take it to the next resistance level of 1.5179.
Trading trends in the pair today are expected to be determined by the BoE Chief, Mark Carney’s speech, scheduled later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
