GBPUSD Movement
For the 24 hours to 23:00 GMT on Friday, GBP fell 0.31% against the USD and closed at 1.6005.
On Friday, public sector net borrowing, excluding the temporary effects of financial interventions, in the UK fell by £0.7 billion from a year ago to £12.8 billion in September. Meanwhile, public sector net borrowing including intervention declined to £10.7 billion in September.
In the Asian session, at GMT0300, the pair is trading at 1.6014, with the GBP trading 0.06% higher from Friday’s close.
The pair is expected to find support at 1.5981, and a fall through could take it to the next support level of 1.5948. The pair is expected to find its first resistance at 1.6057, and a rise through could take it to the next resistance level of 1.6100.
Trading trends in the pair today are expected to be determined by the release of nationwide housing prices data in the UK.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
