GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.07% against the USD and closed at 1.2691.
On the data front, Britain’s services PMI advanced to a level of 51.0 in May, expanding a at a three-month high level and surpassing market expectations for a rise to a level of 50.5. In the prior month, the PMI had recorded a reading of 50.4.
In the Asian session, at GMT0300, the pair is trading at 1.2686, with the GBP trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2663, and a fall through could take it to the next support level of 1.2641. The pair is expected to find its first resistance at 1.2726, and a rise through could take it to the next resistance level of 1.2767.
Trading trend in the British Pound today, is expected to be determined by the Bank of England Governor Mark Carney’s speech, due in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
