GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.35% against the USD and closed at 1.3056, after reports of political quarrels in the British government sparked concerns that discord within the government could make it difficult to secure a good deal with the European Union (EU).
Meanwhile, the Brexit Secretary, David Davis and EU’s chief negotiator, Michel Barnier, kicked off four days of talks to settle Brexit terms.
In the Asian session, at GMT0300, the pair is trading at 1.3087, with the GBP trading 0.24% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3054, and a fall through could take it to the next support level of 1.3022. The pair is expected to find its first resistance at 1.3112, and a rise through could take it to the next resistance level of 1.3138.
Trading trend in the Pound today will be determined by the release of Britain’s crucial inflation data for June, set to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
