GBP/USD: British Parliament clears way for “Brexit” talks with EU while Scotland vows for new independence vote


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP rose 0.31% against the USD and closed at 1.2211, after the Scottish First Minister, Nicola Sturgeon announced plans for a second independence referendum.

In the Asian session, at GMT0400, the pair is trading at 1.2203, with the GBP trading 0.07% lower against the USD from yesterday’s close, after Britain’s Parliament paved the way for Prime Minister Theresa May to launch divorce talks with the European Union (EU).

The pair is expected to find support at 1.2166, and a fall through could take it to the next support level of 1.2128. The pair is expected to find its first resistance at 1.2246, and a rise through could take it to the next resistance level of 1.2288.

Amid a lack of crucial economic releases in Britain today, trading trends in the GBP are expected to be determined by global macroeconomic events.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

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