GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.92% against the USD and closed at 1.4492.
In the Asian session, at GMT0300, the pair is trading at 1.4488, with the GBP trading marginally lower from yesterday’s close.
Overnight data showed that UK’s BRC shop price index further declined 1.8% YoY in May, its lowest level since November 2009, following a 1.7% fall in the previous month.
The pair is expected to find support at 1.4389, and a fall through could take it to the next support level of 1.4290. The pair is expected to find its first resistance at 1.4655, and a rise through could take it to the next resistance level of 1.4822.
Going ahead, investors will look forward to Britain’s Markit manufacturing PMI and consumer credit data, scheduled to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
