GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.37% against the USD and closed at 1.2576, after robust US jobless claims data enhanced the demand appeal for the greenback.
In the Asian session, at GMT0400, the pair is trading at 1.2584, with the GBP trading 0.06% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2518, and a fall through could take it to the next support level of 1.2452. The pair is expected to find its first resistance at 1.2677, and a rise through could take it to the next resistance level of 1.2770.
Going ahead, investors will concentrate on UK’s total trade balance and construction output data, scheduled to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
