GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.53% against the USD and closed at 1.2275.
In the Asian session, at GMT0400, the pair is trading at 1.2301, with the GBP trading 0.21% higher from yesterday’s close.
The pair is expected to find support at 1.2262, and a fall through could take it to the next support level of 1.2222. The pair is expected to find its first resistance at 1.2346, and a rise through could take it to the next resistance level of 1.2390.
Going ahead, traders will focus on UK’s Markit manufacturing PMI for December, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
