GBP/USD: UK set to kick-off Brexit negotiations today


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP rose 0.24% against the USD and closed at 1.2784 on Friday.

In the Asian session, at GMT0300, the pair is trading at 1.2770, with the GBP trading 0.11% lower against the USD from Friday’s close, as political uncertainty continues to run high as Britain begins its negotiations to exit the European Union today.

Overnight data revealed that UK’s Rightmove house prices declined 0.4% MoM in June, following a gain of 1.2% in the previous month.

The pair is expected to find support at 1.2751, and a fall through could take it to the next support level of 1.2732. The pair is expected to find its first resistance at 1.2797, and a rise through could take it to the next resistance level of 1.2824.

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

This entry was posted in GBP/USD. Bookmark the permalink.

Comments are closed.