GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP marginally rose against the USD and closed at 1.5478.
In the Asian session, at GMT0300, the pair is trading at 1.5472, with the GBP trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.5421, and a fall through could take it to the next support level of 1.5371. The pair is expected to find its first resistance at 1.5516, and a rise through could take it to the next resistance level of 1.5560.
With no economic release in the UK today, investors will look forward to the nation’s public sector net borrowing and retail sales data, scheduled to be released next week.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
