GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose marginally against the USD and closed at 1.5580.
Yesterday, the UK Prime Minister, David Cameron urged the nation to support the Conservatives’ in next May’s general election, as failing to do so could endanger the nation’s healthy recovery and take the country backward.
In the Asian session, at GMT0400, the pair is trading at 1.5557, with the GBP trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 1.5536, and a fall through could take it to the next support level of 1.5515. The pair is expected to find its first resistance at 1.5583, and a rise through could take it to the next resistance level of 1.5609.
Trading trends in the pair today are expected to be determined by the release of the UK manufacturing PMI data slated to release later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
