GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 1.02% against the USD and closed at 1.3133, amid doubts over the possibility of an interest rate hike next week and concerns over the Brexit process.
In the Asian session, at GMT0300, the pair is trading at 1.313, with the GBP trading a tad lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3069, and a fall through could take it to the next support level of 1.3009. The pair is expected to find its first resistance at 1.3234, and a rise through could take it to the next resistance level of 1.3339.
Amid a lack of any macroeconomic releases in the UK today, traders would keenly await the Bank of England’s interest rate decision, slated to be announced later next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
