GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.88% against the USD and closed at 1.2962 on Friday.
In the Asian session, at GMT0300, the pair is trading at 1.2980, with the GBP trading 0.14% higher against the USD from Friday’s close.
The pair is expected to find support at 1.2907, and a fall through could take it to the next support level of 1.2833. The pair is expected to find its first resistance at 1.3059, and a rise through could take it to the next resistance level of 1.3137.
Going ahead, investors would look forward to UK’s BBA mortgage approvals data for August, 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.
