GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.04% against the USD and closed at 1.6242.
Data released in the UK indicated that the consumer prices rose at an annual pace of 2.5% in August, slowing from 2.6% in July. Additionally, the Department of Communities and Local Government house price index fell unexpectedly in July.
In the Asian session, at GMT0300, the pair is trading at 1.6242, with the GBP trading flat from yesterday’s close.
The pair is expected to find support at 1.6220, and a fall through could take it to the next support level of 1.6197. The pair is expected to find its first resistance at 1.6266, and a rise through could take it to the next resistance level of 1.6289.
Trading trends in the pair today are expected to be determined by the release of Bank of England (BoE) minutes.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
