GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.05% against the USD and closed at 1.3119, amid escalating fears of a disorderly Brexit in 2020.
In economic news, UK’s BBA mortgage approvals advanced to a 3-year high level of 43.7K in November, following a revised reading of 41.3K in the preceding month.
In the Asian session, at GMT0400, the pair is trading at 1.3128, with the GBP trading 0.07% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3093, and a fall through could take it to the next support level of 1.3057. The pair is expected to find its first resistance at 1.3157, and a rise through could take it to the next resistance level of 1.3185.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
