GBP/USD: British pound extends its gains in the morning session


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP rose 0.24% against the USD and closed at 1.2646.

In the Asian session, at GMT0400, the pair is trading at 1.2673, with the GBP trading 0.21% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2625, and a fall through could take it to the next support level of 1.2576. The pair is expected to find its first resistance at 1.2714, and a rise through could take it to the next resistance level of 1.2754.

Looking ahead, investors would await the release of UK’s consumer price index, producer price index, retail price index all for November along with the house price index for October, slated to release in a few hours. Moreover, the CBI trends orders for December will be on investors radar.

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

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