GBPUSD Movement
On Friday, GBP marginally rose 0.18%against the USD and closed at 1.5438.
In economic news, Lloyds business barometer in the UK recorded a drop to a reading of 45.00. In the prior month, it had recorded a reading of 52.00.
In the Asian session, at GMT0400, the pair is trading at 1.5398, with the GBP trading 0.26% lower from Friday’s close.
The pair is expected to find support at 1.2567, and a fall through could take it to the next support level of 0.9736. The pair is expected to find its first resistance at 1.6845, and a rise through could take it to the next resistance level of 1.8291.
Trading trends in the Pound today are expected to be determined by Britain’s Markit manufacturing PMI coupled with mortgage approvals data, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
