GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 1.41% against the USD and closed at 1.5470, after UK’s ILO unemployment rate dropped to a 7-year low during the June to August 2015 period.
Data showed that the country’s unemployment rate fell to 5.4% in the three months ended August, while investors had expected it to remain unchanged at 5.5%. Employment in the nation grew by 140.0K during the same period, as expected, following an advance of 42.0K in the May-July 2015 period. Meanwhile, claimant count came in at 2.3% in September as expected, remaining at the same level since March.
In the Asian session, at GMT0300, the pair is trading at 1.5477, with the GBP trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.5331, and a fall through could take it to the next support level of 1.5184. The pair is expected to find its first resistance at 1.556, and a rise through could take it to the next resistance level of 1.5643.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
