GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.95% against the USD and closed at 1.2538, on expectations that Britain’s Supreme Court would rule that the government needs parliamentary approval to trigger formal Brexit talks.
In the Asian session, at GMT0400, the pair is trading at 1.2520, with the GBP trading 0.14% lower from yesterday’s close, with investors keenly awaiting UK Supreme Court’s verdict on Parliament Brexit Decision, scheduled in a few hours.
The pair is expected to find support at 1.2433, and a fall through could take it to the next support level of 1.2346. The pair is expected to find its first resistance at 1.2576, and a rise through could take it to the next resistance level of 1.2632.
Ahead in the day, investors will closely monitor UK’s Supreme Court Brexit ruling along with Britain’s public sector net borrowing data for December.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
