GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.22% against the USD and closed at 1.5466.
In the UK, the Markit/Chartered Institute of Purchasing & Supply, reported that, the construction Purchasing Managers’ Index (PMI) declined to 50.1 in September, compared to f 52.6 posted in August. Additionally, this morning, the BRC-Nielsen shop price index rose 2.7% (Y-o-Y) in September.
In the Asian session, at GMT0300, the pair is trading at 1.5435, with the GBP trading 0.20% lower from the New York close.
The pair is expected to find support at 1.5352, and a fall through could take it to the next support level of 1.5269. The pair is expected to find its first resistance at 1.5507, and a rise through could take it to the next resistance level of 1.5579.
Trading trends in the pair today are expected to be determined by release of Gross domestic product (GDP) and Purchasing Managers’ Index (PMI) in the UK.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
