GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.06% against the USD and closed at 1.3171.
On the macro front, UK’s BBA mortgage approvals eased to a level of 39.40K in August, more than market expectations for a fall to a level of 39.56K. The BBA mortgage approvals had registered a revised reading of 39.62K in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3151, with the GBP trading 0.15% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3120, and a fall through could take it to the next support level of 1.3089. The pair is expected to find its first resistance at 1.3200, and a rise through could take it to the next resistance level of 1.3249.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
