GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.72% against the USD and closed at 1.2679.
In economic news, UK’s CB leading economic index rose 0.1% in October, following a revised reading of unchanged in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.2673, with the GBP trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2590, and a fall through could take it to the next support level of 1.2506. The pair is expected to find its first resistance at 1.2728, and a rise through could take it to the next resistance level of 1.2782.
Moving ahead, investors will look forward to UK’s crucial consumer price index for November, scheduled to release in a few hours, which is expected to pick-up in November.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
