GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose marginally against the USD and closed at 1.3110 on Friday.
In the Asian session, at GMT0300, the pair is trading at 1.3100, with the GBP trading 0.08% lower against the USD from Friday’s close.
The pair is expected to find support at 1.3078, and a fall through could take it to the next support level of 1.3057. The pair is expected to find its first resistance at 1.3126, and a rise through could take it to the next resistance level of 1.3153.
Looking forward, investors will closely monitor UK’s net consumer credit and mortgage approvals, both for June, set to release in a few hours. Also, the Gfk consumer confidence index and Lloyds business barometer, both for July, due to be released overnight, will be on investors radar.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
