GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.56% against the USD and closed at 1.3172.
In the Asian session, at GMT0300, the pair is trading at 1.3163, with the GBP trading 0.07% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3118, and a fall through could take it to the next support level of 1.3074. The pair is expected to find its first resistance at 1.3240, and a rise through could take it to the next resistance level of 1.3318.
Going ahead, investors would await the UK’s CBI total trends orders for June, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
