GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.42% against the USD and closed at 1.4444.
In the Asian session, at GMT0400, the pair is trading at 1.4428, with the GBP trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 1.4382, and a fall through could take it to the next support level of 1.4336. The pair is expected to find its first resistance at 1.4505, and a rise through could take it to the next resistance level of 1.4583.
Going ahead, market participants would closely monitor UK’s consumer price index data for January, slated to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
