GBPUSD Movement
On Friday, the GBP traded marginally lower against the USD and closed at 1.5743.
In the Asian session, at GMT0300, the pair is trading at 1.5717, with the GBP trading 0.17% lower from Friday’s close.
The pair is expected to find support at 1.5665, and a fall through could take it to the next support level of 1.5612. The pair is expected to find its first resistance at 1.5769, and a rise through could take it to the next resistance level of 1.5822.
Going forward, investors would focus on Britain’s mortgage approvals as well as consumer confidence data, scheduled in a few hours for further direction in the Pound.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
