GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.08% against the USD and closed at 1.2528.
Yesterday, the UK’s Supreme Court ruled that the British government cannot initiate the “Brexit” process of leaving the European Union without the consent of Parliament.
In other economic news, UK’s public sector net borrowing posted a deficit of £6.4 billion in December, from a revised deficit of £10.8 billion in the previous month and compared to market anticipation for a deficit of £6.8 billion.
In the Asian session, at GMT0400, the pair is trading at 1.2527, with the GBP trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2447, and a fall through could take it to the next support level of 1.2368. The pair is expected to find its first resistance at 1.2574, and a rise through could take it to the next resistance level of 1.2622.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
