GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.34% against the USD and closed at 1.6270, amid weak UK services sector data that dampened expectations for a near term rate hike by the BoE.
In the UK, services PMI fell to 52.6 in February after rising to 54.5 in January.
The pair opened the Asian session at 1.627, and is trading at 1.6276 at 4.00GMT. The pair is trading 0.04% higher from the New York session close.
The pair has its first short term resistance at 1.6323, followed by the next resistance at 1.6369. The first support is at 1.6242, with the subsequent support at 1.6207.
Trading trends in the pair today are expected to be determined by data release on Halifax HPI in the UK.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
