For the 24 hours to 23:00 GMT, the GBP rose 0.14% against the USD and closed at 1.2572 on Friday.
In the Asian session, at GMT0300, the pair is trading at 1.2522, with the GBP trading 0.40% lower against the USD from Friday’s close.
The pair is expected to find support at 1.2498, and a fall through could take it to the next support level of 1.2474. The pair is expected to find its first resistance at 1.2560, and a rise through could take it to the next resistance level of 1.2598.
Moving forward, traders would keep a watch on UK’s Rightmove house price index for July, slated to release later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.