GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 1.05% against the USD and closed at 1.2543.
In the Asian session, at GMT0400, the pair is trading at 1.2555, with the GBP trading 0.1% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2424, and a fall through could take it to the next support level of 1.2293. The pair is expected to find its first resistance at 1.2635, and a rise through could take it to the next resistance level of 1.2715.
Going ahead, market participants would await the release of UK’s construction output for September, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
