GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.14% against the USD and closed at 1.3172.
Yesterday, the Paris-based think tank, OECD slashed Britain’s growth outlook to 0.8% from 1.4% in 2019, amid Brexit uncertainty and warned that a disorderly Brexit would lead the economy into recession.
In the Asian session, at GMT0400, the pair is trading at 1.3180, with the GBP trading 0.06% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3141, and a fall through could take it to the next support level of 1.3102. The pair is expected to find its first resistance at 1.3202, and a rise through could take it to the next resistance level of 1.3224.
Looking ahead, traders would await UK’s Halifax house prices for February, set to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
