GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.25% against the USD and closed at 1.4547.
In the Asian session, at GMT0400, the pair is trading at 1.4536, with the GBP trading 0.08% lower from yesterday’s close.
Early this morning, data showed that UK’s BRC retail sales index across all sectors rose less-than-expected by 0.1% YoY in December, following a decline of 0.4% in the previous month, and lower than investor expectations for it to advance by 0.5%.
The pair is expected to find support at 1.4499, and a fall through could take it to the next support level of 1.4463. The pair is expected to find its first resistance at 1.4589, and a rise through could take it to the next resistance level of 1.4642.
Moving ahead, market participants will look forward to UK’s industrial and manufacturing production data, both for the month of November, scheduled to release in a few hours. Additionally, the nation’s NIESR GDP estimate for December, due later today, will also grab a lot of investor attention.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
