GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.16% against the USD and closed at 1.2921 on Friday.
On the data front, UK’s BBA mortgage approvals rose to a nine-month high level of 39.98K in March, following a revised level of 39.21K in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 1.2930, with the GBP trading 0.07% higher against the USD from Friday’s close.
The pair is expected to find support at 1.2890, and a fall through could take it to the next support level of 1.2849. The pair is expected to find its first resistance at 1.2957, and a rise through could take it to the next resistance level of 1.2983.
Looking ahead, investors would keep an eye on UK’s GfK consumer confidence index and Lloyds business barometer, both for April, slated to release later in the day.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
