GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.34% against the USD and closed at 1.3188.
In economic news, UK’s CBI quarterly distributive trades survey index advanced to a six-month high level of 9.0 in August, as the Brexit induced slump seems to fade. The index had plunged to a reading of -14.0 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3204, with the GBP trading 0.12% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3165, and a fall through could take it to the next support level of 1.3125. The pair is expected to find its first resistance at 1.3243, and a rise through could take it to the next resistance level of 1.3281.
Looking ahead, investors would closely monitor UK’s flash GDP data for Q2 2016, scheduled to release in a few hours.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
