Pound Trading A Tad Higher Ahead Of UK’s Inflation Data
GCI Financial | Apr 14, 2015 02:38AM ET
For the 24 hours to 23:00 GMT, the GBP rose 0.21% against the USD and closed at 1.4670.
In the Asian session, at GMT0300, the pair is trading at 1.4675, with the GBP trading marginally higher from yesterday’s close.
Overnight data showed that retail sales across all sectors in the UK recorded a rise of 3.20% on an annual basis in March. In the prior month, retail sales across all sectors had climbed 0.20%.
The pair is expected to find support at 1.4596, and a fall through could take it to the next support level of 1.4517. The pair is expected to find its first resistance at 1.4724, and a rise through could take it to the next resistance level of 1.4772.
Going forward, Britain’s CPI data, scheduled in a few hours would keep investors on their toes.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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