GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 1.01% against the USD and closed at 1.5747.
In the UK, on a seasonally adjusted basis, the claimant count rose 17,500 in September. The unemployment rate stood at 8.1% for the three months ended August. Additionally, the Conference Board Leading Economic Index (LEI) declined 0.5% in August, after increasing 0.3% in July.
In the Asian session, at GMT0300, the pair is trading at 1.5737, with the GBP trading 0.06% lower from the yesterday’s close.
The pair is expected to find support at 1.5591, and a fall through could take it to the next support level of 1.5446. The pair is expected to find its first resistance at 1.5840, and a rise through could take it to the next resistance level of 1.5944.
Trading trends in the pair today are expected to be determined by release of trade balance data in the UK.
The currency pair showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
