Pound Trading Higher, Ahead Of UK’s Consumer Price Index Data


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP rose 0.43% against the USD and closed at 1.4410. However, the Pound is under immense pressure amid fears surrounding the UK referendum on EU membership

In the Asian session, at GMT0300, the pair is trading at 1.4487, with the GBP trading 0.53% higher from yesterday’s close.

The pair is expected to find support at 1.4380, and a fall through could take it to the next support level of 1.4274. The pair is expected to find its first resistance at 1.4543, and a rise through could take it to the next resistance level of 1.4600.

Moving ahead, market participants will look forward to the release of UK’s consumer price index data for April, due in a few hours.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

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