GBP/USD: Sterling trading lower in the morning session


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.50% against the USD and closed at 1.2225.

Separately, the Bank of England, Governor, Mark Carney, in his speech, warned over the adverse impact of climate changes on major corporations and allotted a period of two year to the firms for reporting climate risks prior to its development by the global regulators.

In the Asian session, at GMT0300, the pair is trading at 1.2217, with the GBP trading 0.07% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.2174, and a fall through could take it to the next support level of 1.2130. The pair is expected to find its first resistance at 1.2282, and a rise through could take it to the next resistance level of 1.2346.

Looking ahead, traders would await UK’s RICS housing price balance for September, set to release overnight.

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

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