GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.66% against the USD and closed at 1.3173.
Data showed that UK’s final services PMI unexpectedly expanded to a level of 50.0 in December, rising for the fourth consecutive month and confounding market expectations for a fall to a level of 49.2 and preliminary figures for a reading of 49.0. The PMI had recorded a reading of 49.3 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.3174, with the GBP trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3099, and a fall through could take it to the next support level of 1.3023. The pair is expected to find its first resistance at 1.3215, and a rise through could take it to the next resistance level of 1.3255.
With no macroeconomic releases in UK today, investors would look forward to global macroeconomic releases for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
