GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.27% against the USD and closed at 1.5567, extending its previous session losses.
In the Asian session, at GMT0300, the pair is trading at 1.5565, with the GBP trading a tad lower from yesterday’s close.
The pair is expected to find support at 1.5525, and a fall through could take it to the next support level of 1.5486. The pair is expected to find its first resistance at 1.5617, and a rise through could take it to the next resistance level of 1.5669.
Moving ahead, today’s UK public sector net borrowing would be keenly awaited by the investors. In addition, the BoE minutes, scheduled tomorrow, will also remain in focus for better clarity regarding an interest rate hike in the UK.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
