GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell 0.37% against the USD and closed at 1.5046.
In economic news, the second estimate of UK’s GDP rose as expected by 0.5% QoQ in 3Q 2015, compared to a rise of 0.7% in the previous quarter. The preliminary figures had also indicated a rise of 0.5%.
In the Asian session, at GMT0400, the pair is trading at 1.5023, with the GBP trading 0.15% lower from Friday’s close.
The pair is expected to find support at 1.4989, and a fall through could take it to the next support level of 1.4955. The pair is expected to find its first resistance at 1.5083, and a rise through could take it to the next resistance level of 1.5144.
Going forward, market participants will concentrate on Britain’s mortgage approvals and consumer credit data, both for the month of October, scheduled to be released in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
