GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose marginally against the USD and closed at 1.6497, amid a lack of major economic releases from the UK.
In the Asian session, at GMT0400, the pair is trading at 1.6497, with the GBP trading flat from yesterday’s close.
The pair is expected to find support at 1.6462, and a fall through could take it to the next support level of 1.6428. The pair is expected to find its first resistance at 1.6534, and a rise through could take it to the next resistance level of 1.6572.
Later today, the National Statistics is expected to report the trend in the UK’s consumer price index, along with a BBA’s data on the number of mortgage approvals in the nation.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
