Pound Trading On A Stronger Footing This Morning
GCI Financial | Nov 24, 2014 01:29AM ET
On Friday, GBP fell 0.28% against the USD and closed at 1.5647.
In economic news, the UK’s public sector net borrowing registered a surplus of £7.1 billion in October, compared to a revised surplus of £10.6 billion in the previous month, while markets anticipated it to report a surplus of £7.0 billion.
In the Asian session, at GMT0400, the pair is trading at 1.5660, with the GBP trading 0.08% higher from Friday’s close.
The pair is expected to find support at 1.5621, and a fall through could take it to the next support level of 1.5582. The pair is expected to find its first resistance at 1.5704, and a rise through could take it to the next resistance level of 1.5749.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
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