GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.17% against the USD and closed at 1.2737, amid rising hopes for averting Brexit.
Macroeconomic data indicated that UK’s services PMI unexpectedly fell to its lowest level in 28-months to 50.4 in November, confounding market consensus for a rise to a level of 52.5. The services PMI had recorded a reading of 52.2 in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.2721, with the GBP trading 0.13% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2663, and a fall through could take it to the next support level of 1.2606. The pair is expected to find its first resistance at 1.2788, and a rise through could take it to the next resistance level of 1.2856.
In absence of key economic releases in the UK today, investor sentiment would be determined by global macroeconomic events.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
