GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP slightly rose against the USD and closed at 1.2332.
In the Asian session, at GMT0300, the pair is trading at 1.2334, with the GBP trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2290, and a fall through could take it to the next support level of 1.2245. The pair is expected to find its first resistance at 1.2373, and a rise through could take it to the next resistance level of 1.2411.
Looking ahead, traders would closely monitor UK’s consumer price index, retail price index, house price index and the Rightmove house prices, slated to release next week.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
