GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP slightly rose against the USD and closed at 1.3074.
In the Asian session, at GMT0300, the pair is trading at 1.3086, with the GBP trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3036, and a fall through could take it to the next support level of 1.2985. The pair is expected to find its first resistance at 1.3120, and a rise through could take it to the next resistance level of 1.3153.
Overnight data showed that UK’s BRC like-for-like retail sales rose 4.3% on a yearly basis in June, less than market expectations for a rise of 7.6% and compared to a rise of 10.9% in the prior month.
Moving ahead, traders would keep a watch on UK’s ILO unemployment rate and average earnings including bonus, both for June, slated to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
