GBP/USD: British Pound trading a tad lower in the morning session


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP slightly declined against the USD and closed at 1.2663, after Prime Minister Theresa May’s second Brexit referendum was rejected in the parliament.

In the Asian session, at GMT0300, the pair is trading at 1.2661, with the GBP trading slightly lower against the USD from yesterday’s close.

The pair is expected to find support at 1.2617, and a fall through could take it to the next support level of 1.2572. The pair is expected to find its first resistance at 1.2695, and a rise through could take it to the next resistance level of 1.2728.

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

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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