GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.4% against the USD and closed at 1.2679.
In the Asian session, at GMT0400, the pair is trading at 1.2656, with the GBP trading 0.18% lower against the USD from yesterday’s close.
Overnight data showed that UK’s BRC shop prices fell 1.7% MoM in November, following a similar drop in the previous month.
The pair is expected to find support at 1.2610, and a fall through could take it to the next support level of 1.2564. The pair is expected to find its first resistance at 1.2738, and a rise through could take it to the next resistance level of 1.2820.
Going ahead, market participants will closely monitor UK’s industrial and manufacturing production and Halifax house prices data, all due to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
