GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.25% against the USD and closed at 1.4262.
In the Asian session, at GMT0400, the pair is trading at 1.4252, with the GBP trading 0.07% lower from yesterday’s close.
Early this morning, data indicated that UK’s BRC retail sales across all sectors rose less-than-expected by 0.1% YoY in February, compared to an advance of 2.6% in the prior month, while markets expected a 0.5% rise.
The pair is expected to find support at 1.4163, and a fall through could take it to the next support level of 1.4073. The pair is expected to find its first resistance at 1.4313, and a rise through could take it to the next resistance level of 1.4374.
Moving ahead, investors await the release of UK’s NIESR GDP estimate, along with the nation’s industrial and manufacturing production data, scheduled to release tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
