GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.18% against the USD and closed at 1.5252, following disappointing construction PMI data in the UK.
Britain’s construction PMI decreased to its lowest level since July 2013 to 57.6 in December, lower than market expectations of a drop to 59.0 and following a level of 59.4 registered in November.
In the Asian session, at GMT0400, the pair is trading at 1.5260, with the GBP trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.5202, and a fall through could take it to the next support level of 1.5143. The pair is expected to find its first resistance at 1.5320, and a rise through could take it to the next resistance level of 1.5380.
Trading trends in the Pound today are expected to be determined by the UK services PMI coupled with the BoE’s credit conditions survey data, scheduled in few hours.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
