GBPUSD Movement
On Friday, GBP fell 0.55% against the USD and closed at 1.5428.
In economic news, UK’s public sector net cash requirements stood at £3.1 billion in May. Also, the public sector net borrowing stood at £10.5 billion in May. Additionally, public sector net borrowing excluding financial interventions came in at £8.8 billion in May.
In the Asian session, at GMT0300, the pair is trading at 1.5383, with the GBP trading 0.29% lower from Friday’s close.
The pair is expected to find support at 1.5323, and a fall through could take it to the next support level of 1.5263. The pair is expected to find its first resistance at 1.5487, and a rise through could take it to the next resistance level of 1.5591.
Trading trends in the pair today are expected to be determined by the release of Nationwide housing prices in the UK.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
