GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.47% against the USD and closed at 1.2358.
In the Asian session, at GMT0300, the pair is trading at 1.2322, with the GBP trading 0.29% lower against the USD from yesterday’s close.
Overnight data indicated that UK’s BRC like-for-like retail sales across all sectors unexpectedly rebounded by 0.4% in September on an annual basis, against market expectations for a fall of 0.3% and following a drop of 0.9% in the prior month.
The pair is expected to find support at 1.2270, and a fall through could take it to the next support level of 1.2218. The pair is expected to find its first resistance at 1.2402, and a rise through could take it to the next resistance level of 1.2482.
With no economic releases in 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.
