GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.42% against the USD and closed at 1.2911.
Macroeconomic data indicated that UK’s services PMI climbed to 54.3 in August, reaching its second-highest level since February and more than market consensus for a rise to a level of 53.9. The services PMI had recorded a reading of 53.5 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2923, with the GBP trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2812, and a fall through could take it to the next support level of 1.2700. The pair is expected to find its first resistance at 1.3009, and a rise through could take it to the next resistance level of 1.3094.
With no macroeconomic releases in the UK today, investors would look forward to global macroeconomic releases for further directions.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
