GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.13% against the USD and closed at 1.2804.
In the Asian session, at GMT0300, the pair is trading at 1.2788, with the GBP trading 0.12% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2766, and a fall through could take it to the next support level of 1.2744. The pair is expected to find its first resistance at 1.2822, and a rise through could take it to the next resistance level of 1.2856.
Going ahead, investors will closely monitor Britain’s flash 2Q GDP report, slated to release in a few hours, to gauge the strength in the British economy. Moreover, the nation’s BBA mortgage applications data for July, will also be eyed by traders.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
