GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.23% against the USD and closed at 1.3283.
In economic news, UK’s Markit manufacturing PMI unexpectedly rose to a level of 52.1 in June, notching its highest level since January 2016, driven by a solid acceleration in new orders and output. Markets had expected it to remain steady at a level of 50.1.
In the Asian session, at GMT0300, the pair is trading at 1.3296, with the GBP trading 0.1% higher against the USD from Friday’s close.
The pair is expected to find support at 1.3244, and a fall through could take it to the next support level of 1.3192. The pair is expected to find its first resistance at 1.3347, and a rise through could take it to the next resistance level of 1.3398.
Going ahead, investors will look forward to UK’s construction PMI data for June, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
