GBPUSD Movement
On Friday, GBP marginally declined 0.48% against the USD and closed at 1.6246.
In the Asian session, at GMT0300, the pair is trading at 1.6233, with the GBP trading 0.08% lower from Friday’s close.
The pair is expected to find support at 1.6195, and a fall through could take it to the next support level of 1.6158. The pair is expected to find its first resistance at 1.6301, and a rise through could take it to the next resistance level of 1.637.
Trading trends in the Pound today are expected to be determined by Britain’s mortgage approvals as well as net consumer credit, scheduled in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
