GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose marginally against the USD and closed at 1.6251, after reports indicated that the manufacturing purchasing managers’ index (PMI) in the UK rose to a 15-month high of 51.4 in December, from 49.2 in November.
In the Asian session, at GMT0400, the pair is trading at 1.6222, with the GBP trading 0.18% lower from yesterday’s close.
The pair is expected to find support at 1.6166, and a fall through could take it to the next support level of 1.611. The pair is expected to find its first resistance at 1.6314, and a rise through could take it to the next resistance level of 1.6406.
Nationwide house prices and Halifax house prices data due today is expected to shed more light on the housing sector in the UK.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
