GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.15% against the USD and closed at 1.4885.
In the Asian session, at GMT0400, the pair is trading at 1.4886, with the GBP trading flat from yesterday’s close.
Early this morning, data showed that UK’s Gfk consumer confidence index surprisingly rose to a level of 2.0 in December, from a six-month low level of 1.0 in the previous month and defying investor forecasts for a steady reading.
The pair is expected to find support at 1.4866, and a fall through could take it to the next support level of 1.4845. The pair is expected to find its first resistance at 1.4919, and a rise through could take it to the next resistance level of 1.4951.
Going ahead, investors await Britain’s public sector net borrowing data for November, scheduled to be released in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
