GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.27% against the USD and closed at 1.2188.
In economic news, UK’s CB leading economic index remained flat in September, following a revised drop of 0.2% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2227, with the GBP trading 0.32% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2150, and a fall through could take it to the next support level of 1.2073. The pair is expected to find its first resistance at 1.2288, and a rise through could take it to the next resistance level of 1.2349.
Investors would turn their attention to UK’s crucial consumer price inflation figures for September, due to release in a few hours, to gauge the strength in the UK economy.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
