For the 24 hours to 23:00 GMT, the GBP rose 0.10% against the USD and closed at 1.3060, as prospects of no-deal Brexit dimmed and amid expectations of Brexit delay.
In the Asian session, at GMT0300, the pair is trading at 1.3078, with the GBP trading 0.14% higher against the USD from yesterday’s close.
Overnight data showed that UK’s BRC retail sales across all sectors slid 1.1% on an annual basis in March, compared to a fall of 0.1% in the previous month. Market participants had envisaged retail sales across all sectors to register a decline of 0.8%.
The pair is expected to find support at 1.3049, and a fall through could take it to the next support level of 1.3020. The pair is expected to find its first resistance at 1.3093, and a rise through could take it to the next resistance level of 1.3108.
With no macroeconomic releases in UK today, investors would look forward to global macroeconomic releases for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.