GBP/USD: Lloyds Business Barometer Rises in UK

GBP/USD: Lloyds Business Barometer Rises in UK

For the 24 hours to 23:00 GMT on Friday, GBP rose 0.30% against the USD and closed at 1.6163.

In the Asian session, at GMT0400, the pair is trading at 1.6155, with the GBP trading marginally lower from Friday’s close. Economic data released this morning indicated that the Lloyds business sentiment index in the UK rose to a reading of 20.0 in December, from a reading of 17.0 reported last month.

The pair is expected to find support at 1.6097, and a fall through could take it to the next support level of 1.6039. The pair is expected to find its first resistance at 1.6195, and a rise through could take it to the next resistance level of 1.6235.