GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.76% against the USD and closed at 1.5492. However, some losses in British Pound were recouped after a report showed that services industries in the UK expanded at the fastest pace in five months in December.
In the UK, the services Purchasing Managers Index (PMI) rose to 54.0 in December, compared to 52.1 in November.
In the Asian session, at GMT0400, the pair is trading at 1.5502, with the GBP trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 1.5437, and a fall through could take it to the next support level of 1.5371. The pair is expected to find its first resistance at 1.5599, and a rise through could take it to the next resistance level of 1.5695.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
