GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.91% against the USD and closed at 1.3135 on Friday.
In the economic news, UK’s public sector net borrowing fell to £4.5 billion in June, following a revised deficit of £3.9 billion in the prior month. Market expectation was for public sector net borrowing to show a deficit of £3.6 billion.
In the Asian session, at GMT0300, the pair is trading at 1.3142, with the GBP trading 0.05% higher against the USD from Friday’s close.
The pair is expected to find support at 1.3041, and a fall through could take it to the next support level of 1.2941. The pair is expected to find its first resistance at 1.3199, and a rise through could take it to the next resistance level of 1.3257.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
