GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.15% against the USD and closed at 1.2896.
In the Asian session, at GMT0300, the pair is trading at 1.2886, with the GBP trading 0.08% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2852, and a fall through could take it to the next support level of 1.2818. The pair is expected to find its first resistance at 1.2918, and a rise through could take it to the next resistance level of 1.2950.
Looking ahead, traders will focus on Britain’s public sector net borrowing data for July, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
