GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP traded flat against the USD, on Friday, and closed at 1.5591.
In the UK, this morning, on a monthly basis, home prices declined 0.1% in September. Additionally, GfK NOP reported that its consumer confidence index rose to -30.0 in September, compared to -31.0 posted in August.
The pair opened the Asian session at 1.5582, and is trading at 1.5531 at 3.00GMT. GBP is trading 0.38% lower versus USD from Friday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.5621, followed by the next resistance at 1.5712. The first support is at 1.5485, with the subsequent support at 1.5440.
Trading trends in the pair today are expected to be determined by release of manufacturing Purchasing Manager Index (PMI) in the UK.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
