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


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.44% against the USD and closed at 1.3250.

In the Asian session, at GMT0400, the pair is trading at 1.3245, with the GBP trading slightly lower against the USD from yesterday’s close.

The pair is expected to find support at 1.3192, and a fall through could take it to the next support level of 1.3138. The pair is expected to find its first resistance at 1.3315, and a rise through could take it to the next resistance level of 1.3384.

Going forward, traders would closely monitor UK’s Rightmove house price index, the ILO unemployment rate, consumer price index, retail price index and house price index, all scheduled to release next week.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

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