For the 24 hours to 23:00 GMT, the GBP declined 0.25% against the USD and closed at 1.3383, after UK’s Chief Brexit negotiator, David Davis stated that “no quantitative assessment” was carried out to analyse the impact of Brexit on the British economy.
In the Asian session, at GMT0400, the pair is trading at 1.3383, with the GBP trading flat against the USD from yesterday’s close.
The pair is expected to find support at 1.3349, and a fall through could take it to the next support level of 1.3314. The pair is expected to find its first resistance at 1.3427, and a rise through could take it to the next resistance level of 1.3470.
Looking ahead, traders would focus on UK’s Halifax house prices data for November, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.