GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.80% against the USD and closed at 1.3035.
In the Asian session, at GMT0300, the pair is trading at 1.3042, with the GBP trading 0.05% higher against the USD from yesterday’s close.
Overnight data indicated that UK’s BRC shop price index rose 0.4% on a yearly basis in April, following a rise of 0.9% in the previous month.
The pair is expected to find support at 1.2966, and a fall through could take it to the next support level of 1.2891. The pair is expected to find its first resistance at 1.3083, and a rise through could take it to the next resistance level of 1.3125.
Moving ahead, traders would await UK’s Nationwide house price index and the Markit manufacturing PMI, both for April, along with net consumer credit and mortgage approvals, both for March, scheduled to release in a few hours
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
