GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell marginally against the USD and closed at 1.6114, after
UK’s British Banker’s Association (BBA) reported that the number of new mortgages approved in November rose to 33,634 approvals from a revised 33,128 approvals in October. The expected level was 34,500.
In the Asian session, at GMT0400, the pair is trading at 1.6119, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.6056, and a fall through could take it to the next support level of 1.5994. The pair is expected to find its first resistance at 1.6192, and a rise through could take it to the next resistance level of 1.6265.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
