GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.50% against the USD and closed at 1.3021, amid growing prospects for an interest rate cut this month.
In the Asian session, at GMT0400, the pair is trading at 1.3025, with the GBP trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2976, and a fall through could take it to the next support level of 1.2926. The pair is expected to find its first resistance at 1.3054, and a rise through could take it to the next resistance level of 1.3082.
Trading trend in the Sterling today, is expected to be determined by UK’s house price index for November, consumer price index and retail price index for December, slated to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
