GBP/USD: British Pound trading a tad higher in the Asian session


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.50% against the USD and closed at 1.2846, amid fears that Prime Minister Theresa May’s proposed Brexit deal will be rejected again in June.

In the Asian session, at GMT0300, the pair is trading at 1.2847, with the GBP trading slightly higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2808, and a fall through could take it to the next support level of 1.2770. The pair is expected to find its first resistance at 1.2904, and a rise through could take it to the next resistance level of 1.2962.

Amid lack of economic releases in UK today, traders would focus on global macroeconomic events for further direction.

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

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