GBP/USD: Sterling trading on a weaker footing in the morning session


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP rose 0.33% against the USD and closed at 1.3156.

In the Asian session, at GMT0300, the pair is trading at 1.3145, with the GBP trading 0.08% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.3105, and a fall through could take it to the next support level of 1.3064. The pair is expected to find its first resistance at 1.3184, and a rise through could take it to the next resistance level of 1.3222.

Moving ahead, traders would closely monitor developments on the Brexit front along with UK’s ILO unemployment rate, average weekly earnings for August and jobless claims change for September, all scheduled to release in a while.

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

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