GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.49% against the USD and closed at 1.6056.
The Pound had risen earlier after the UK’s seasonally adjusted retail sales increased 0.6% (MoM) in September, against the expectations for a 0.4% gain and compared to a revised 0.1% drop in August.
In the Asian session, at GMT0300, the pair is trading at 1.6062, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.6012, and a fall through could take it to the next support level of 1.5962. The pair is expected to find its first resistance at 1.6142, and a rise through could take it to the next resistance level of 1.6221.
Trading trends in the pair today are expected to be determined by the release of UK’s public sector net borrowing.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
