GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.19% against the USD and closed at 1.2439.
In the Asian session, at GMT0400, the pair is trading at 1.2429, with the GBP trading 0.08% lower against the USD from yesterday’s close.
Data released overnight indicated that UK’s GfK consumer confidence index eased to a level of -6.0 in February, meeting market expectations and compared to a reading of -5.0 in the previous month.
The pair is expected to find support at 1.2381, and a fall through could take it to the next support level of 1.2334. The pair is expected to find its first resistance at 1.2477, and a rise through could take it to the next resistance level of 1.2526.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
