GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.61% against the USD and closed at 1.3079.
On the data front, UK’s public sector net borrowing posted a surplus of £1.5 billion, from a revised deficit of £7.5 billion in the previous month whereas markets anticipated for a surplus of £2.2 billion.
In the Asian session, at GMT0300, the pair is trading at 1.3053, with the GBP trading 0.2% lower against the USD from Friday’s close.
The pair is expected to find support at 1.2994, and a fall through could take it to the next support level of 1.2936. The pair is expected to find its first resistance at 1.3137, and a rise through could take it to the next resistance level of 1.3222.
With no economic releases in the UK today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
