GBP/USD: UK’s Lloyd’s business barometer advanced in June


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.18% against the USD and closed at 1.2671.

In the Asian session, at GMT0300, the pair is trading at 1.2669, with the GBP trading marginally lower against the USD from yesterday’s close.

Overnight data indicated that UK’s Lloyd’s business barometer climbed to 13.0% in June, compared to 10.0% in the previous month. Meanwhile, the nation’s GfK consumer confidence eased to -13.0 in June, compared to market expectations for a fall to a level of -11.0. In the prior month, the consumer confidence index had recorded a level of -10.0.

The pair is expected to find support at 1.2646, and a fall through could take it to the next support level of 1.2622. The pair is expected to find its first resistance at 1.2709, and a rise through could take it to the next resistance level of 1.2748.

Trading trend in the Sterling today, is expected to be determined by UK’s gross domestic product for the first quarter 2019, set to release in a few hours.

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

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