GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.96% against the USD and closed at 1.3425, reaching a two-month high level. The USD came under pressure after the US services sector activity indicator dropped more than expected in August.
In the Asian session, at GMT0300, the pair is trading at 1.3414, with the GBP trading 0.08% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3332, and a fall through could take it to the next support level of 1.3249. The pair is expected to find its first resistance at 1.3471, and a rise through could take it to the next resistance level of 1.3527.
Today investors look forward to the release of Britain’s industrial and manufacturing production data for July along with the NIESR GDP estimate for the three months ended August.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
