GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.18% against the USD and closed at 1.5821.
There were no major releases in the UK yesterday. Meanwhile, in the US, the Conference Board reported that its consumer confidence index fell to a reading of 60.6 in August, marking the lowest level since November 2011. Additionally, the Federal Reserve Bank of Richmond reported that its manufacturing index rose to a reading of -9.0 in August, compared to -17.0 in the previous month.
Separately, the Dallas Federal Reserve Bank President, Richard Fisher stated that the central bank policymakers continue to weigh options on monetary policy but have not yet agreed to unveil a new round of stimulus.
In the Asian session, at GMT0300, the pair is trading at 1.5815, with the GBP trading 0.04% lower from yesterday’s close.
The pair is expected to find support at 1.5769, and a fall through could take it to the next support level of 1.5722. The pair is expected to find its first resistance at 1.5849, and a rise through could take it to the next resistance level of 1.5882.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
