GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.24% against the USD and closed at 1.5538.
With the UK traders away from the markets yesterday for a public holiday, trading in the pair remained subdued.
In the Asian session, at GMT0300, the pair is trading at 1.5546, with the GBP trading marginally higher from yesterday’s close.
In the economic news, the BRC shop price index in the UK rose 0.4% (MoM) in April, following a 1.4% increase recorded in the previous month.
The pair is expected to find support at 1.5515, and a fall through could take it to the next support level of 1.5484. The pair is expected to find its first resistance at 1.5582, and a rise through could take it to the next resistance level of 1.5618.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
