GBP/USD: Pound trading lower in the Asian session


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.95% against the USD and closed at 1.3116, amid mounting rumours that the British Prime Minister, Theresa May, could be ousted in the coming months.

In the Asian session, at GMT0300, the pair is trading at 1.3101, with the GBP trading 0.11% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.3043, and a fall through could take it to the next support level of 1.2984. The pair is expected to find its first resistance at 1.3205, and a rise through could take it to the next resistance level of 1.3308.

Moving ahead, investors will look forward to UK’s Halifax house price index for September, slated to release in a few hours.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

This entry was posted in GBP/USD. Bookmark the permalink.

Comments are closed.