GBP/USD: Pound trading a tad higher, ahead of the BoE Governor’s speech


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.48% against the USD and closed at 1.2781.

Meanwhile, UK’s lawmakers assented to Prime Minister, Theresa May’s plan to hold an early general election on 8th June.

In the Asian session, at GMT0300, the pair is trading at 1.2783, with the GBP trading marginally higher from yesterday’s close.

The pair is expected to find support at 1.2747, and a fall through could take it to the next support level of 1.2710. The pair is expected to find its first resistance at 1.2839, and a rise through could take it to the next resistance level of 1.2894.

Looking ahead, market participants will draw their attention to a speech by the Bank of England (BoE) Governor, Mark Carney, due later today.

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

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