GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.63% against the USD and closed at 1.5193, after UK’s public sector net borrowing rose more-than-anticipated in October.
Data showed that Britain’s public sector net borrowing recorded a surplus of £7.5 billion in October, following a revised surplus of £8.3 billion in the previous month and against market expectations for a surplus of £5.3 billion.
In the Asian session, at GMT0400, the pair is trading at 1.5171, with the GBP trading 0.15% lower from Friday’s close.
The pair is expected to find support at 1.5115, and a fall through could take it to the next support level of 1.5059. The pair is expected to find its first resistance at 1.5269, and a rise through could take it to the next resistance level of 1.5367.
Amid 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.
