GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.64% against the USD and closed at 1.2480 on Friday.
In economic news, UK’s CBI industrial trends total orders improved to a level of 0.0 in December, recording its highest level since April 2015, from a reading of -3.0 in the previous month, while markets expected for a rise to a level of -5.0.
In the Asian session, at GMT0400, the pair is trading at 1.2478, with the GBP trading marginally lower against the USD from Friday’s close.
The pair is expected to find support at 1.2414, and a fall through could take it to the next support level of 1.2349. The pair is expected to find its first resistance at 1.2526, and a rise through could take it to the next resistance level of 1.2573.
With no economic releases in the UK today, investor sentiment would be governed by global macroeconomic factors.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
