GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.31% against the USD and closed at 1.5746.
Yesterday, the Bank of England (BoE) policymaker, David Miles, stated that economic growth in the UK would accelerate slowly and pick up over the coming year.
In the Asian session, at GMT0400, the pair is trading at 1.5749, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.5705, and a fall through could take it to the next support level of 1.5660. The pair is expected to find its first resistance at 1.5784, and a rise through could take it to the next resistance level of 1.5818.
Trading trends in the pair is likely to be impacted by UK’s mortgage approvals, consumer credit and net lending to individuals data due later today.
The currency pair is trading above its 20 Hr and 50 Hr moving average.
