GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.75% against the USD and closed at 1.4156.
In economic news, UK’s Markit services PMI rose more-than-expected to a level of 53.7 in March, from a nearly three-year low level of 52.7 in the previous month. Investors had expected it to rise to a level of 53.5. However, the upcoming EU membership referendum continues to weigh on the nation’s dominant service’s sector.
In the Asian session, at GMT0300, the pair is trading at 1.4164, with the GBP trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.4099, and a fall through could take it to the next support level of 1.4033. The pair is expected to find its first resistance at 1.4251, and a rise through could take it to the next resistance level of 1.4338.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
