GBP/USD: Sterling trading on a negative footing this morning


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP rose 0.20% against the USD and closed at 1.2750.

In the Asian session, at GMT0400, the pair is trading at 1.2730, with the GBP trading 0.16% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.2663, and a fall through could take it to the next support level of 1.2596. The pair is expected to find its first resistance at 1.2814, and a rise through could take it to the next resistance level of 1.2898.

Looking ahead, investor would closely monitor UK’s Markit manufacturing PMI for December, due in a few fours.

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

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