GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 1.07% against the USD and closed at 1.2613.
In the Asian session, at GMT0300, the pair is trading at 1.2433, with the GBP trading 1.43% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.1921, and a fall through could take it to the next support level of 1.1410. The pair is expected to find its first resistance at 1.2842, and a rise through could take it to the next resistance level of 1.3252.
Looking forward, market participants would keep a close watch on UK’s industrial and manufacturing production and total trade balance, all for August, due in a few hours. Also, the NIESR GDP estimate for the three months to September, scheduled to be released later today, would garner a lot of market attention.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
