GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.46% against the USD and closed at 1.2360 on Friday.
In the Asian session, at GMT0400, the pair is trading at 1.2339, with the GBP trading 0.17% lower against the USD from Friday’s close.
The pair is expected to find support at 1.2279, and a fall through could take it to the next support level of 1.2218. The pair is expected to find its first resistance at 1.2418, and a rise through could take it to the next resistance level of 1.2496.
Amid no economic releases in the UK today, market participants would look forward to global events for direction.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
