GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.22% against the USD, on Friday, and closed at 1.6218.
In the UK, the construction Purchasing Managers’ Index (PMI) retreated to 52.6 in August, compared to 53.5 in July.
The pair opened the Asian session at 1.6169, and is trading at 1.6181 at 3.00GMT. GBP is trading 0.23% lower versus USD from Friday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6246, followed by the next resistance at 1.6311. The first support is at 1.6124, with the subsequent support at 1.6067.
Trading trends in the pair today are expected to be determined by release of Purchasing Manager Index Services and BRC sales like-for-like in the UK.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
