GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.52% against the USD and closed at 1.2501.
In the Asian session, at GMT0400, the pair is trading at 1.2485, with the GBP trading 0.13% lower 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 1.2364. The pair is expected to find its first resistance at 1.256, and a rise through could take it to the next resistance level of 1.2636.
Moving ahead, investors would focus on the release of Britain’s consumer price index for October, due in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
