GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.31% against the USD and closed at 1.2929.
Meanwhile, another round of Brexit negotiations kicked off yesterday, with UK’s Labour party favouring for a softer departure from the European Union that would allow the nation to retain access to the single market.
In the Asian session, at GMT0300, the pair is trading at 1.2939, with the GBP trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2894, and a fall through could take it to the next support level of 1.285. The pair is expected to find its first resistance at 1.2963, and a rise through could take it to the next resistance level of 1.2988.
Going ahead, market participants will focus on UK’s nationwide house prices for August, slated to release in a while.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
