GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.86% against the USD and closed at 1.5282, after the UK services PMI surged to its highest level in the last 27 months and recorded a reading of 56.9 in June, way better than the expected drop to 54.5.
In the Asian session, at GMT0300, the pair is trading at 1.5262, with the GBP trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 1.5159, and a fall through could take it to the next support level of 1.5057. The pair is expected to find its first resistance at 1.5335, and a rise through could take it to the next resistance level of 1.5409.
Today, investors have their eyes set on BoE interest rate and asset purchase levels decision, the first under the leadership of new Governor, Mark Carney.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
