GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.33% against the USD and closed at 1.3238, propelled by speculations that the UK government is ready to offer around £40.0 billion to the European Union as part of its ‘divorce bill’.
In the Asian session, at GMT0400, the pair is trading at 1.3248, with the GBP trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3200, and a fall through could take it to the next support level of 1.3153. The pair is expected to find its first resistance at 1.3287, and a rise through could take it to the next resistance level of 1.3327.
Going ahead, traders would closely monitor UK’s public sector net borrowing data for October, 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.
