GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.55% against the USD and closed at 1.5640.
In the UK, the CBI Distributive Trades Survey reported that the volume of sales in September declined to -15.0%, compared to -14.0% in August.
The pair opened the Asian session at 1.5640, and is trading at 1.5636 at 3.00GMT. GBP is trading slightly lower versus USD from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.5719, followed by the next resistance at 1.5803. The first support is at 1.5539, with the subsequent support at 1.5443.
Investors are eying the Bank of England Credit Conditions Report to be released later today.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
