GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined marginally against the USD and closed at 1.3249.
Yesterday, the Bank of England (BoE) policymaker, Martin Weale, suggested that the central bank should take into consideration the uncertainty from the historic Brexit vote and should wait for firmer evidence before taking any action on the monetary policy.
In the Asian session, at GMT0300, the pair is trading at 1.3219, with the GBP trading 0.23% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3176, and a fall through could take it to the next support level of 1.3134. The pair is expected to find its first resistance at 1.3286, and a rise through could take it to the next resistance level of 1.3354.
Moving ahead, UK’s consumer and producer prices data for June, scheduled to release in a few hours, will be on investor’s radar.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
