GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.11% against the USD and closed at 1.5768.
In the UK, the number of people claiming jobseeker’s allowances climbed 20,300 on month in August. Additionally, the claimant count rate rose to 4.9% in August, compared to a rate of 4.8% posted in the previous month. The unemployment rate stood at 7.9% for the three months ended July, in line with market expectations.
The pair opened the Asian session at 1.5768, and is trading at 1.5756 at 3.00GMT. GBP is trading 0.08% lower versus USD from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.5815, followed by the next resistance at 1.5874. The first support is at 1.5699, with the subsequent support at 1.5642.
Trading trends in the pair today are expected to be determined by retail sales data release in the UK.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
