GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.80% against the USD and closed at 1.5394.
In the Asian session, at GMT0300, the pair is trading at 1.5393, with the GBP trading marginally lower from yesterday’s close.
Overnight data revealed that Britain’s BRC shop price index fell 1.40% on a MoM basis, compared to a similar fall in the previous month.
The pair is expected to find support at 1.5313, and a fall through could take it to the next support level of 1.5232. The pair is expected to find its first resistance at 1.5444, and a rise through could take it to the next resistance level of 1.5494.
Looking forward, investors await the release of Britain’s manufacturing and industrial production data, both for July, along with the NIESR GDP estimate for three months to August, scheduled in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
