GBP/USD: Pound trading on a stronger footing this morning


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.25% against the USD and closed at 1.2558 on Friday.

In the Asian session, at GMT0400, the pair is trading at 1.2580, with the GBP trading 0.18% higher against the USD from Friday’s close.

The pair is expected to find support at 1.2529, and a fall through could take it to the next support level of 1.2479. The pair is expected to find its first resistance at 1.2615, and a rise through could take it to the next resistance level of 1.2651.

Going ahead, investors look forward to UK’s GfK consumer confidence index for January, scheduled to release overnight.

The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.

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