GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.29% against the USD and closed at 1.2863.
In major news, UK Prime Minister Theresa May’s Brexit divorce deal was rejected by the parliament, raising worries over a political turmoil leading to chaotic exit from the European Union.
In the Asian session, at GMT0400, the pair is trading at 1.2855, with the GBP trading 0.06% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2711, and a fall through could take it to the next support level of 1.2568. The pair is expected to find its first resistance at 1.2957, and a rise through could take it to the next resistance level of 1.3060.
Trading trend in the Sterling today is expected to be determined by UK’s house price index for November along with the consumer price index, retail price index and producer price index, all for December, slated to release in a few hours.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
