Sat, Oct 23, 2021 @ 10:40 GMT
HomeContributorsFundamental AnalysisPound Trading On A Stronger Footing This Morning

Pound Trading On A Stronger Footing This Morning

For the 24 hours to 23:00 GMT, the GBP declined 0.47% against the USD and closed at 1.4166.

In the Asian session, at GMT0300, the pair is trading at 1.4186, with the GBP trading 0.14% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.4087, and a fall through could take it to the next support level of 1.3987. The pair is expected to find its first resistance at 1.4265, and a rise through could take it to the next resistance level of 1.4343.

Looking forward, market participants would focus on UK’s GfK consumer confidence index for March, set to release overnight.

The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.

GCI Financialhttp://www.gcitrading.com/
DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

Featured Analysis

Learn Forex Trading