GBP/USD: Pound trading a tad higher, ahead of Britain’s inflation data


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP slightly declined against the USD and closed at 1.3177.

In the Asian session, at GMT0300, the pair is trading at 1.3178, with the GBP trading marginally higher against the USD from yesterday’s close.

Meanwhile, UK’s lawmakers voted in favour of Brexit bill in Parliament to end the nation’s membership with the EU.

The pair is expected to find support at 1.3152, and a fall through could take it to the next support level of 1.3126. The pair is expected to find its first resistance at 1.3213, and a rise through could take it to the next resistance level of 1.3248.

Moving ahead, investors will keep a close watch on UK’s consumer price inflation data for August, slated to release in a few hours.

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

This entry was posted in GBP/USD. Bookmark the permalink.

Comments are closed.