GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.08% against the USD and closed at 1.6493.
The US Dollar fell after the economic data showed that the pending US home sales came in below expectations, a result of high mortgage rates and the limited supply of property up for sale.
In the Asian session, at GMT0400, the pair is trading at 1.6480, with the GBP trading 0.08% lower from yesterday’s close.
The pair is expected to find support at 1.6448, and a fall through could take it to the next support level of 1.6417. The pair is expected to find its first resistance at 1.6523, and a rise through could take it to the next resistance level of 1.6567.
Ahead in the day, the pair’s further direction would likely be influenced by the manufacturing and consumer confidence data from the US, along with a sole release from the UK, the Lloyds Business Barometer.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
