GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.36% against the USD and closed at 1.3194.
On the data front, Britain’s BBA mortgage approvals surprisingly advanced to a 9-month high level of 40.5K in June, defying market expectations for a fall to a level of 39.0K. In the previous month, mortgage approvals had recorded a revised reading of 39.5K.
In the Asian session, at GMT0300, the pair is trading at 1.3204, with the GBP trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3154, and a fall through could take it to the next support level of 1.3103. The pair is expected to find its first resistance at 1.3234, and a rise through could take it to the next resistance level of 1.3263.
With no macroeconomic releases in the UK today, investors would look forward to global macroeconomic events for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
