GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.04% against the USD and closed at 1.5675.
Data released in the UK showed that the consumer price index rose 2.6% (YoY) in July, following a 2.4% rise in June. Meanwhile, the retail price index rose 3.2% annually in July, compared to the 2.8% rise in June.
In the Asian session, at GMT0300, the pair is trading at 1.5671, with the GBP trading steady from yesterday’s close.
The pair is expected to find support at 1.5647, and a fall through could take it to the next support level of 1.5623. The pair is expected to find its first resistance at 1.5712, and a rise through could take it to the next resistance level of 1.5753.
In today’s trading session, the UK jobless claims change and ILO unemployment rate are the key economic releases on tap, along with the Bank of England (BoE) minutes.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
