Pound Extends Its Losses In The Asian Session
GCI Financial | Nov 28, 2014 12:53AM ET
For the 24 hours to 23:00 GMT, the GBP fell 0.43% against the USD and closed at 1.5724.
In economic news, the UK’s Lloyds business barometer rose to a level of 42.0 in November, up from previous month’s reading of 35.0.
In the Asian session, at GMT0400, the pair is trading at 1.5709, with the GBP trading 0.09% lower from yesterday’s close.
Early morning data indicated that Britain’s GfK consumer confidence remained unchanged at -2.0 in November, while markets were expecting it to climb to -1.0.
The pair is expected to find support at 1.5667, and a fall through could take it to the next support level of 1.5624. The pair is expected to find its first resistance at 1.5790, and a rise through could take it to the next resistance level of 1.5870.
Amid a light economic calendar in the UK today, investors await the UK’s Nationwide housing prices index data, scheduled in a few hours.
The currency pair is trading below 20 Hr and 50 Hr moving averages.
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