GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.33% against the USD and closed at 1.5184, after the UK construction PMI rose more-than-expected to a reading of 59.9 in September, posting its best reading in seven months, from a level of 57.3 in August.
In the Asian session, at GMT0300, the pair is trading at 1.5217, with the GBP trading 0.21% higher from Friday’s close.
The pair is expected to find support at 1.5155, and a fall through could take it to the next support level of 1.5093. The pair is expected to find its first resistance at 1.5258, and a rise through could take it to the next resistance level of 1.5300.
Going forward, investors would pay close attention to Britain’s services PMI data for the month of September, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
