GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.53% against the USD and closed at 1.3133, after dovish comments from the Bank of England’s (BoE) Deputy Governor, Jon Cunliffe fuelled uncertainty over a potential November interest rate hike.
In the Asian session, at GMT0300, the pair is trading at 1.3132, with the GBP trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3087, and a fall through could take it to the next support level of 1.3043. The pair is expected to find its first resistance at 1.3202, and a rise through could take it to the next resistance level of 1.3273.
Trading trend in the Pound today is expected to be determined by the release of UK’s flash 3Q GDP figures, due in a few hours. Investors will also eye the nation’s BBA mortgage approvals data for September.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
