Pound Trading On A Stronger Footing, Ahead Of UK’s Markit Manufacturing
GCI Financial | Nov 02, 2015 03:14AM ET
For the 24 hours to 23:00 GMT, the GBP rose 0.62% against the USD and closed at 1.5412.
In economic news, UK’s Lloyds (L:LLOY) business barometer index rose to a level of 50.0 in October, from a reading of 42.0 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.5432, with the GBP trading 0.13% higher from Friday’s close.
The pair is expected to find support at 1.5337, and a fall through could take it to the next support level of 1.5242. The pair is expected to find its first resistance at 1.5498, and a rise through could take it to the next resistance level of 1.5564.
Moving ahead, investors will look forward to Britain’s Markit manufacturing PMI index data for October, scheduled to be released in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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