For the 24 hours to 23:00 GMT, the GBP rose 0.26% against the USD and closed at 1.2969.
In the Asian session, at GMT0300, the pair is trading at 1.2970, with the GBP trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2933, and a fall through could take it to the next support level of 1.2895. The pair is expected to find its first resistance at 1.2996, and a rise through could take it to the next resistance level of 1.3021.
Trading trends in the GBP today is expected to be determined by the release of Britain’s industrial, manufacturing and construction output data along with total trade balance figures, all for May, slated to release in a few hours. Also, the NIESR GDP estimate for the three months to June, will also be on investors’ radar.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.