GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.35% against the USD and closed at 1.2222.
In the Asian session, at GMT0300, the pair is trading at 1.2215, with the GBP trading 0.06% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2187, and a fall through could take it to the next support level of 1.2159. The pair is expected to find its first resistance at 1.2264, and a rise through could take it to the next resistance level of 1.2313.
Looking ahead, traders would keep an eye on UK’s BBA mortgage approvals for July, set to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
