GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.59% against the USD and closed at 1.2500, afters the Supreme Court heard a case over whether British Prime Minister, Boris Johnson’s decision to suspend Parliament, ahead of Brexit was legal.
In the Asian session, at GMT0300, the pair is trading at 1.2491, with the GBP trading 0.07% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2414, and a fall through could take it to the next support level of 1.2336. The pair is expected to find its first resistance at 1.2548, and a rise through could take it to the next resistance level of 1.2604.
Trading trend in the Sterling today, is expected to be determined by UK’s consumer price index, retail price index and producer price index, all for August, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
