GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.38% against the USD and closed at 1.3520 on Friday, following the UK Prime Minister, Theresa May’s Brexit speech.
The British Prime Minister proposed a two-year implementation period once Brexit takes place, during which the UK would continue to have unfettered access to the European Union’s (EU) single market. May also indicated that Britain would continue to pay into the EU budget during the period of its EU’s membership.
In the Asian session, at GMT0300, the pair is trading at 1.353, with the GBP trading 0.07% higher against the USD from Friday’s close.
The pair is expected to find support at 1.3455, and a fall through could take it to the next support level of 1.3381. The pair is expected to find its first resistance at 1.3600, and a rise through could take it to the next resistance level of 1.3671.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
