GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose marginally against the USD and closed at 1.5229.
In the Asian session, at GMT0400, the pair is trading at 1.5213, with the GBP trading 0.1% lower from yesterday’s close.
The pair is expected to find support at 1.5177, and a fall through could take it to the next support level of 1.5142. The pair is expected to find its first resistance at 1.5245, and a rise through could take it to the next resistance level of 1.5278.
Going ahead, investors will look forward to UK’s construction output data for September, scheduled to be released in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
