GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.41% against the USD and closed at 1.5047.
In the Asian session, at GMT0400, the pair is trading at 1.5045, with the GBP trading marginally lower from yesterday’s close.
Early morning data showed that UK’s BRC retail sales monitor across all sectors surprisingly declined 0.4% YoY in November, against market expectations for a rise of 0.5% and after falling by 0.2% in the previous month.
The pair is expected to find support at 1.5018, and a fall through could take it to the next support level of 1.4991. The pair is expected to find its first resistance at 1.5094, and a rise through could take it to the next resistance level of 1.5143.
Going ahead, investors will look forward to Britain’s NIESR GDP estimate data for November, scheduled to be released later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
