For the 24 hours to 23:00 GMT, the GBP declined 0.72% against the USD and closed at 1.3047 on Friday. The US gained ground against the Pound following better than expected US jobs data for July.
In the Asian session, at GMT0300, the pair is trading at 1.3053, with the GBP trading marginally higher against the USD from Friday’s close.
The pair is expected to find support at 1.2997, and a fall through could take it to the next support level of 1.2940. The pair is expected to find its first resistance at 1.3137, and a rise through could take it to the next resistance level of 1.3220.
Moving ahead, market participants will look forward to the UK’s Halifax house prices data for July, scheduled to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.