GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.47% against the USD and closed at 1.4452.
In the Asian session, at GMT0300, the pair is trading at 1.4462, with the GBP trading 0.07% higher against the USD from yesterday’s close.
Overnight data showed that UK’s BRC retail sales monitor rebounded more-than-expected by 0.5% YoY in May, compared to market expectations for an advance of 0.3% and following a 0.9% decline in the previous month.
The pair is expected to find support at 1.4386, and a fall through could take it to the next support level of 1.4309. The pair is expected to find its first resistance at 1.4506, and a rise through could take it to the next resistance level of 1.4549.
Moving ahead, market participants will look forward to the release of Britain’s Halifax house prices data for May, due in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
