GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.50% against the USD and closed at 1.5346, as consumer price inflation stagnated on an annual basis in August.
UK data showed annual consumer price index fell back to 0.0% in August, in line with expectations, after witnessing 0.1% surge in prior month.
In other economic news, CB leading economic Index showed downfall of 0.3% in overall economic activity in July, from a fall of 0.2% in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 1.5355, with the GBP trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.5303, and a fall through could take it to the next support level of 1.5252. The pair is expected to find its first resistance at 1.5432, and a rise through could take it to the next resistance level of 1.551.
Today, investors will have attention on UK employment data, scheduled to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
