GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose slightly against the USD and closed at 1.2908.
In the Asian session, at GMT0300, the pair is trading at 1.2901, with the GBP trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2865, and a fall through could take it to the next support level of 1.283. The pair is expected to find its first resistance at 1.2943, and a rise through could take it to the next resistance level of 1.2986.
Moving ahead, market participants would eye the release of UK’s Halifax house prices data for May, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
