GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.18% against the USD and closed at 1.2895, after UK’s Prime Minister Theresa May disclosed Brexit’s plan B to the parliament.
In the Asian session, at GMT0400, the pair is trading at 1.2878, with the GBP trading 0.13% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2836, and a fall through could take it to the next support level of 1.2793. The pair is expected to find its first resistance at 1.2916, and a rise through could take it to the next resistance level of 1.2953.
Trading trend in the Sterling today is expected to be determined by UK’s public sector net borrowing for December followed by average weekly earnings and ILO unemployment rate, both for November, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
