GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.08% against the USD and closed at 1.2947.
In the Asian session, at GMT0300, the pair is trading at 1.2943, with the GBP trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2909, and a fall through could take it to the next support level of 1.2875. The pair is expected to find its first resistance at 1.2968, and a rise through could take it to the next resistance level of 1.2993.
With no economic releases in Britain today, investors will look forward to the Bank of England’s interest rate decision, scheduled tomorrow.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
