GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.24% against the USD and closed at 1.2783 on Friday, amid ongoing political uncertainty.
In the Asian session, at GMT0400, the pair is trading at 1.2790, with the GBP trading 0.05% higher against the USD from Friday’s close.
The pair is expected to find support at 1.2765, and a fall through could take it to the next support level of 1.2740. The pair is expected to find its first resistance at 1.2819, and a rise through could take it to the next resistance level of 1.2848.
Going forward, investors would keep an eye on UK’s gross domestic product for Q3 along with trade balance data, industrial production and manufacturing production, all for September, set to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
