GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP slightly declined against the USD and closed at 1.3373.
Data released on Friday showed that Britain’s final gross domestic product (GDP) rose 0.4% on a quarterly basis in the third quarter of 2017, confirming the flash estimate. The nation’s GDP had registered an advance of 0.3% in the previous quarter.
In the Asian session, at GMT0400, the pair is trading at 1.3378, with the GBP trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3354, and a fall through could take it to the next support level of 1.3331. The pair is expected to find its first resistance at 1.3395, and a rise through could take it to the next resistance level of 1.3413.
Moving ahead, investors would focus on the release of UK’s BBA mortgage approvals data for November, due in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
