GBP/USD trades a tight range in Asia, currently at 1.5308, with day's high at 1.5320 and lows at 1.5290.
- Buck generally stronger on the day as traders preferred to hold the US currency ahead of the key US employment report
- Short-Term momentum stoch's/RSI point lower, 20 day Bolli's expand, 5, 10 & 20 dma's head lower, momentum studies slip
- A weaker-than-expected UK manufacturing survey data (Tuesday) added to arguments for hold of BoE interest rates, further weighing on GBP
- GBP/USD is currently trading at 1.5308, with immediate resistance at 1.5352 (21-HMA) and support on the downside by 1.5300 (Daily Low Sep 1)
- UK construction PMI awaited, with the figure expected to stay well in expansion at 57.5, better than the previous 57.1 result
Resistance Levels:
R3: 1.5437 (100 HMA, High Aug 31)
R2: 1.5379 (Hourly Cloud Top)
R1: 1.5352 (21-HMA)
Support Levels:
S1: 1.5300 (Daily Low Sep 1)
S2: 1.5257 (Daily Low Jun 9)
S3: 1.5222 (Daily Low Jun 8)
