GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.51% against the USD and closed at 1.4289.
In the Asian session, at GMT0400, the pair is trading at 1.428, with the GBP trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 1.4159, and a fall through could take it to the next support level of 1.4038. The pair is expected to find its first resistance at 1.4359, and a rise through could take it to the next resistance level of 1.4439.
Moving ahead, investors await UK’s consumer inflation expectations, total trade balance and construction output data, all scheduled for release in a few hours, to gauge the health of the nation’s economy.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
