GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.43% against the USD and closed at 1.2992.
Overnight data indicated that, UK’s BRC retail sales monitor across all sectors dropped 0.5% on an annual basis in June, amid rising uncertainty following the Britain’s vote on the EU membership and after recording a rise of 0.5% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3081, with the GBP trading 0.69% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2923, and a fall through could take it to the next support level of 1.2765. The pair is expected to find its first resistance at 1.3165, and a rise through could take it to the next resistance level of 1.3249.
Looking ahead, investors will keep a close watch on the BoE Governor, Mark Carney’s speech, due in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
