GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 2.02% against the USD and closed at 1.3255.
In a speech to the Treasury Committee, BoE Governor, Mark Carney, denied allegations that the central bank tried to manipulate British electorate into voting to remain in the European Union by highlighting the risks associated with the potential exit. Further, he also hinted that consequences of Brexit could trigger the central bank for taking additional stimulus measures, if need be.
In the Asian session, at GMT0300, the pair is trading at 1.3285, with the GBP trading 0.23% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3109, and a fall through could take it to the next support level of 1.2932. The pair is expected to find its first resistance at 1.3399, and a rise through could take it to the next resistance level of 1.3512.
Going ahead, market participants will look forward to UK’s RICS housing price balance, scheduled to be released overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
