Pound Trading Marginally Higher Ahead Of UK’s Q2 GDP Growth Data
GCI Financial | Jul 28, 2015 03:06AM ET
For the 24 hours to 23:00 GMT, the GBP rose 0.28% against the USD and closed at 1.5560, rebounding from its previous session losses.
The balance of firms in the UK reporting total order book above normal unexpectedly lowered to -10.00 in July. It had registered a level of -7.00 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.5565, with the GBP trading a tad higher from yesterday’s close.
The pair is expected to find support at 1.5505, and a fall through could take it to the next support level of 1.5444. The pair is expected to find its first resistance at 1.5611, and a rise through could take it to the next resistance level of 1.5657.
Going forward, investors would gauge preliminary print of UK’s second quarter growth numbers, scheduled in a few hours, to get better insights in the nation’s economy.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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