GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.41% against the USD and closed at 1.3313, amid reduced possibilities of a no-deal Brexit.
On the data front, UK’s Gfk consumer confidence index unexpectedly climbed to a level of -13.0 in February, compared to a level of -14.0 in the prior month. Market participants anticipated the index to ease to a level of -15.0. Meanwhile, Britain’s Lloyd’s business barometer eased to a level of 4.0% in February, compared to a level of 19.0% in preceding month.
In the Asian session, at GMT0400, the pair is trading at 1.3300, with the GBP trading 0.10% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3239, and a fall through could take it to the next support level of 1.3177. The pair is expected to find its first resistance at 1.3356, and a rise through could take it to the next resistance level of 1.3411.
Trading trend in the UK today is expected to be determined by UK’s Nationwide house price index for February, set to release in a while.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
