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


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.47% against the USD and closed at 1.2823.

In the Asian session, at GMT0300, the pair is trading at 1.2830, with the GBP trading 0.05% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2795, and a fall through could take it to the next support level of 1.2761. The pair is expected to find its first resistance at 1.2888, and a rise through could take it to the next resistance level of 1.2947.

Going forward, investors will keep an eye on UK’s gross domestic product for Q2, along with trade balance data, industrial production, manufacturing production and construction output, all for June, set 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.