GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.18% against the USD and closed at 1.3047.
In the Asian session, at GMT0300, the pair is trading at 1.3044, with the GBP trading a tad lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2990, and a fall through could take it to the next support level of 1.2935. The pair is expected to find its first resistance at 1.3089, and a rise through could take it to the next resistance level of 1.3133.
Going forward, investors would closely monitor the Bank of England’s crucial interest rate decision, scheduled to release in a few hours
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
