GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.06% against the USD and closed at 1.2880 on Friday.
In the Asian session, at GMT0300, the pair is trading at 1.2892, with the GBP trading 0.09% higher against the USD from Friday’s close.
The pair is expected to find support at 1.2856, and a fall through could take it to the next support level of 1.2821. The pair is expected to find its first resistance at 1.2913, and a rise through could take it to the next resistance level of 1.2935.
In absence of any relevant economic releases in the UK today, market participants will look forward to global macroeconomic events for direction.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
