GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.17% against the USD and closed at 1.2366.
In the Asian session, at GMT0400, the pair is trading at 1.2377, with the GBP trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2323, and a fall through could take it to the next support level of 1.2268. The pair is expected to find its first resistance at 1.2420, and a rise through could take it to the next resistance level of 1.2462.
Going ahead, market participants will keep a close watch on UK’s public sector net borrowing data for November, scheduled to release in a few hours.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
