GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.11% against the USD and closed at 1.2837 on Friday.
In the Asian session, at GMT0400, the pair is trading at 1.2836, with the GBP trading a tad lower against the USD from Friday’s close.
The pair is expected to find support at 1.2795, and a fall through could take it to the next support level of 1.2753. The pair is expected to find its first resistance at 1.2860, and a rise through could take it to the next resistance level of 1.2883.
Looking forward, investors would closely monitor UK’s net consumer credit for September along with mortgage approvals, set 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.
