GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.52% against the USD and closed at 1.2287.
In the Asian session, at GMT0400, the pair is trading at 1.2278, with the GBP trading 0.07% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2240, and a fall through could take it to the next support level of 1.2202. The pair is expected to find its first resistance at 1.2343, and a rise through could take it to the next resistance level of 1.2408.
Going ahead, market participants will turn their attention to UK’s final 3Q GDP data, slated to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
