GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.3% against the USD and closed at 1.3233.
In economic news, UK’s BBA mortgage approvals fell more-than-anticipated to an 18-month low level of 37.7K in July, compared to market expectations of a drop to a level of 38.0K and following a revised level of 39.8K in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3221, with the GBP trading 0.09% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3162, and a fall through could take it to the next support level of 1.3103. The pair is expected to find its first resistance at 1.3276, and a rise through could take it to the next resistance level of 1.3331.
Amid no major economic releases in the UK today, investor sentiment would be governed by global macroeconomic events.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
