GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose marginally against the USD and closed at 1.5075.
In economic news, UK’s Markit manufacturing PMI declined to a level of 52.7 in November, compared to market expectations of a fall to 53.6, and compared to a revised reading of 55.2 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.5069, with the GBP trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.5037, and a fall through could take it to the next support level of 1.5005. The pair is expected to find its first resistance at 1.5114, and a rise through could take it to the next resistance level of 1.5159.
Moving ahead, investors will concentrate on Britain’s Markit construction PMI data for November, scheduled to be released in a few hours, to gauge the strength in the nation’s economy.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
