GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.54% against the USD and closed at 1.3060.
Data showed that UK’s services PMI slid to a seven-month low level of 52.2 in October, compared to a level of 53.9 in the prior month. Market participants had anticipated the PMI to drop to a level of 53.3.
In the Asian session, at GMT0400, the pair is trading at 1.3053, with the GBP trading 0.05% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2989, and a fall through could take it to the next support level of 1.2926. The pair is expected to find its first resistance at 1.3092, and a rise through could take it to the next resistance level of 1.3132.
With no macroeconomic releases in the UK today, investors would look forward to global macroeconomic releases for further cues.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
