Pound Trading Lower Ahead Of UK’s Industrial And Manufacturing Productio
GCI Financial | Jul 07, 2015 02:13AM ET
For the 24 hours to 23:00 GMT, the GBP rose 0.27% against the USD and closed at 1.5604, rebounding back from its earlier session losses.
In the Asian session, at GMT0300, the pair is trading at 1.5588, with the GBP trading 0.1% lower from yesterday’s close.
The pair is expected to find support at 1.5537, and a fall through could take it to the next support level of 1.5486. The pair is expected to find its first resistance at 1.5635, and a rise through could take it to the next resistance level of 1.5682.
Going forward, Britain’s industrial and manufacturing production data along with NIESR estimate of UK GDP growth for the three months ending in June, set for release in a few hours would grab lot of market attention.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
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