GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.19% against the USD and closed at 1.6461. The pound trimmed gains against the US dollar yesterday, pulling away from a one-month high after a string of weaker-than-expected US economic data dented risk appetite.
The pair opened the Asian session at 1.6461, and is trading at 1.6460 at 3.00GMT. The pair is trading flat from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6531, followed by the next resistance at 1.6603. The first support is at 1.6404, with the subsequent support at 1.6349.
With a series of UK economic releases today, including manufacturing purchasing manager index and money supply, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
