GBPUSD Movement
On Friday, GBP marginally declined 0.56% against the USD and closed at 1.5584, after the BoE in its latest survey reported that the UK’s consumer inflation expectations for the next 12 months registered a drop to 2.5%, compared to a level of 2.8% recorded in the previous survey.
In the Asian session, at GMT0400, the pair is trading at 1.5563, with the GBP trading 0.13% lower from Friday’s close.
The pair is expected to find support at 1.5518, and a fall through could take it to the next support level of 1.5472. The pair is expected to find its first resistance at 1.5653, and a rise through could take it to the next resistance level of 1.5742.
Amid no economic releases in the UK today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
