GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.58% against the USD and closed at 1.5255.
In economic news, UK’s PPI core output rose 0.2% YoY in September, as expected. However, the consumer prices slid 0.1% YoY in September, after a flat reading in the previous month. Investors had expected it to remain unchanged.
In the Asian session, at GMT0300, the pair is trading at 1.528, with the GBP trading 0.17% higher from yesterday’s close.
The pair is expected to find support at 1.5191, and a fall through could take it to the next support level of 1.5101. The pair is expected to find its first resistance at 1.5380, and a rise through could take it to the next resistance level of 1.5479.
Going ahead, investors will pay close attention to ILO unemployment and claimant count rate data, scheduled to be released later today.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
