GBP/USD: British Pound trading flat in the morning session


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.34% against the USD and closed at 1.3042, despite the appointment of Rishi Sunak as the British Chancellor following the resignation of Sajid Javid.

In the Asian session, at GMT0400, the pair is trading at 1.3042, with the GBP trading flat against the USD from yesterday’s close.

The pair is expected to find support at 1.2967, and a fall through could take it to the next support level of 1.2893. The pair is expected to find its first resistance at 1.3093, and a rise through could take it to the next resistance level of 1.3145.

With no macroeconomic releases in the UK today, investor sentiment would be determined by global macroeconomic news.

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

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