GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.43% against the USD and closed at 1.5456.
In economic news, the CBI distributive trade survey’s retail sales balance in the UK tumbled to 1.0 in February, the lowest reading since November 2013 and compared to a reading of 39.0 in the previous month. Markets were anticipating it to drop to a level of 35.0.
In the Asian session, at GMT0400, the pair is trading at 1.5437, with the GBP trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 1.5354, and a fall through could take it to the next support level of 1.5271. The pair is expected to find its first resistance at 1.5498, and a rise through could take it to the next resistance level of 1.5559.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
