GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.14% against the USD and closed at 1.6810
In the Asian session, at GMT0300, the pair is trading at 1.6804, with the GBP trading a tad lower from yesterday’s close.
The pair is expected to find support at 1.6768, and a fall through could take it to the next support level of 1.6733. The pair is expected to find its first resistance at 1.6828, and a rise through could take it to the next resistance level of 1.6853.
Trading trends in the Pound today are expected to be determined by the much awaited BoE’s quarterly inflation report and the UK’s unemployment rate, scheduled later in the day.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
