GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.93% against the USD and closed at 1.5952.
In the UK, the British Retail Consortium (BRC) indicated that the average shop prices in rose 2.7% (Y-o-Y) in August, compared to a 2.8% rise in July.
The pair opened the Asian session at 1.5952, and is trading at 1.5976 at 3.00GMT. GBP is trading 0.15% higher versus USD from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6147, followed by the next resistance at 1.6319. The first support is at 1.5861, with the subsequent support at 1.5747.
Trading trends in the pair today are expected to be determined by release of manufacturing and industrial data in the UK.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
