GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.31% against the USD and closed at 1.2164.
On the macro front, UK’s CBI trends total orders rose to a level of -13.00 in August, compared to a reading of -34.00 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2169, with the GBP trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2096, and a fall through could take it to the next support level of 1.2024. The pair is expected to find its first resistance at 1.2210, and a rise through could take it to the next resistance level of 1.2252.
Looking ahead, investors would keep an eye on UK’s public sector net borrowing for July, slated to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
