GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.14% against the USD and closed at 1.2679.
In economic news, data revealed that UK’s CBI industrial trends total orders surprisingly advanced to a nearly 30-year high level of 16.0 in June, mainly driven by faster growth in export orders. Meanwhile, markets expected it to ease to a level of 7.0, from a reading of 9.0 reported in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 1.2696, with the GBP trading 0.13% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2667, and a fall through could take it to the next support level of 1.2637. The pair is expected to find its first resistance at 1.2713, and a rise through could take it to the next resistance level of 1.2729.
With no major economic releases in the UK today, investors will look forward to Britain’s final GDP figures, BBA mortgage applications, GfK consumer confidence and net consumer credit data, all slated to release next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
