GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.39% against the USD and closed at 1.3094.
On Friday, UK’s services PMI expanded to a level of 50.4 in April, compared to a reading of 48.9 in the prior month. Market participants had envisaged the PMI to advance to a level of 50.3.
In the Asian session, at GMT0300, the pair is trading at 1.3117, with the GBP trading 0.18% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3084, and a fall through could take it to the next support level of 1.3051. The pair is expected to find its first resistance at 1.3148, and a rise through could take it to the next resistance level of 1.3179.
Moving forward, investors would keep an eye on UK’s Halifax house prices index for April, slated to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
