GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.26% against the USD and closed at 1.6861 following upbeat UK construction PMI data. The British construction sector activity expanded at a faster rate than expected to a seasonally adjusted 62.4 in July, but lower than previous month’s reading of 62.6. However, analysts had expected the index to fall to 62.0.
In the Asian session, at GMT0300, the pair is trading at 1.6864, with the GBP trading tad higher from yesterday’s close.
The pair is expected to find support at 1.6828, and a fall through could take it to the next support level of 1.6792. The pair is expected to find its first resistance at 1.6886, and a rise through could take it to the next resistance level of 1.6908.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
