GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 1.33% against the USD and closed at 1.4674, after recent polls showed that support for Britain staying in the European Union strengthened before Thursday’s referendum vote.
In the Asian session, at GMT0300, the pair is trading at 1.4659, with the GBP trading 0.1% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.4562, and a fall through could take it to the next support level of 1.4464. The pair is expected to find its first resistance at 1.4737, and a rise through could take it to the next resistance level of 1.4814.
Going ahead, investors look forward to Britain’s public sector net borrowing data for May, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
