GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP slightly rose against the USD and closed at 1.3209, after two Eurosceptic lawmakers hinted that they would back UK’s Prime Minister Theresa May’s Brexit deal.
Data showed that UK’s BBA mortgage approvals unexpectedly declined to a level of 35.3K in February, defying market expectations for a gain to a level of 39.8K. In the previous month, BBA mortgage approvals had recorded a revised level of 39.6K.
In the Asian session, at GMT0400, the pair is trading at 1.3180, with the GBP trading 0.22% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3138, and a fall through could take it to the next support level of 1.3096. The pair is expected to find its first resistance at 1.3242, and a rise through could take it to the next resistance level of 1.3304.
Amid no major economic releases in UK today, investors would focus on global macroeconomic factors for further direction
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
