GBP/USD: British Pound trading on a stronger footing this morning


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.97% against the USD and closed at 1.2901.

In the Asian session, at GMT0400, the pair is trading at 1.2918, with the GBP trading 0.13% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2831, and a fall through could take it to the next support level of 1.2743. The pair is expected to find its first resistance at 1.3043, and a rise through could take it to the next resistance level of 1.3167.

Looking forward, traders would keep an eye on Britain’s total trade balance, industrial production, manufacturing production, gross domestic product (GDP), all for January, slated to release in few hours.

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

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