GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.16% against the USD and closed at 1.2750.
Macroeconomic data indicated that, UK’s Markit services PMI fell less-than-anticipated to a level of 52.6 in September, compared to market expectations for a drop to a level of 52.2 and following a level of 52.9 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2736, with the GBP trading 0.11% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2689, and a fall through could take it to the next support level of 1.2642. The pair is expected to find its first resistance at 1.2777, and a rise through could take it to the next resistance level of 1.2818.
With no major economic releases in UK today, investor sentiment would be governed by global macroeconomic factors.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
