GBP/USD: Pound trading marginally lower, ahead of key economic releases in the UK


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.22% against the USD and closed at 1.3539.

In the Asian session, at GMT0400, the pair is trading at 1.3534, with the GBP trading slightly lower against the USD from yesterday’s close.

The pair is expected to find support at 1.3499, and a fall through could take it to the next support level of 1.3465. The pair is expected to find its first resistance at 1.3575, and a rise through could take it to the next resistance level of 1.3617.

Moving ahead, traders would look forward to UK’s industrial as well as manufacturing production, total trade balance and construction output data, all for November, set to release in a few hours. Moreover, the NIESR GDP estimate for the three months to December, scheduled to release later in the day, will be eyed by investors.

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

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