GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 1.01% against the USD and closed at 1.4152, after the London Mayor, Boris Johnson, expressed his support for Britain’s exit from the European Union (EU) bloc.
In the Asian session, at GMT0400, the pair is trading at 1.4109, with the GBP trading 0.31% lower from yesterday’s close.
The pair is expected to find support at 1.4014, and a fall through could take it to the next support level of 1.3919. The pair is expected to find its first resistance at 1.4248, and a rise through could take it to the next resistance level of 1.4386.
Moving ahead, investors will look forward to UK’s BBA mortgage approvals data for January, scheduled to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
