GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.08% against the USD and closed at 1.2969.
On the data front, UK’s BBA mortgage approvals dropped more-than-expected to a level of 37.0K in August, touching its lowest level since January 2015, compared to market expectations of a drop to a level of 37.1K and following a revised reading of 37.7K in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2978, with the GBP trading 0.07% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2931, and a fall through could take it to the next support level of 1.2883. The pair is expected to find its first resistance at 1.3009, and a rise through could take it to the next resistance level of 1.3039.
Amid no major economic releases in the UK today, investor sentiment would be governed by global macroeconomic events.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
