GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.08% against the USD and closed at 1.3003.
Meanwhile, latest polls showed that the UK Prime Minister, Theresa May’s lead over her opposition leaders had narrowed to nine points from around 20 points, ahead of the general elections due to take place on 8 June.
In the Asian session, at GMT0300, the pair is trading at 1.2987, with the GBP trading 0.12% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2952, and a fall through could take it to the next support level of 1.2918. The pair is expected to find its first resistance at 1.3032, and a rise through could take it to the next resistance level of 1.3078.
Ahead in the day, investors will look forward to UK’s public sector net borrowings data for April and Inflation report hearings for further direction.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
