GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.79% against the USD and closed at 1.3984, as a more upbeat outlook among investors regarding Brexit negotiations boosted gains in the local currency.
Yesterday, the IMF maintained its projection for Britain’s economic growth at 1.5% for this year.
In the Asian session, at GMT0400, the pair is trading at 1.3983, with the GBP trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3893, and a fall through could take it to the next support level of 1.3803. The pair is expected to find its first resistance at 1.4038, and a rise through could take it to the next resistance level of 1.4093.
Looking ahead, traders would await UK’s public-sector net borrowing data for December, set to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
