GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.34% against the USD and closed at 1.3147.
Data indicated that, Britain’s CBI industrial trends total orders eased to a level of 11.0 in July, compared to a reading of 13.0 in the prior month. Markets had expected trend orders to fall to a level of 9.0.
In the Asian session, at GMT0300, the pair is trading at 1.3148, with the GBP trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3094, and a fall through could take it to the next support level of 1.3039. The pair is expected to find its first resistance at 1.3181, and a rise through could take it to the next resistance level of 1.3213.
Moving forward, investors will keep an eye on UK’s BBA mortgage approvals for June, due to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
