GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.22% against the USD and closed at 1.3452.
On the data front, Britain’s BBA mortgage approvals climbed to a six-month high level of 41.81K in August, boosting optimism over the state of the nation’s housing market. Markets had expected mortgage approvals to advance to a level of 41.70K, after recording a revised level of 41.64K in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3438, with the GBP trading 0.1% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3394, and a fall through could take it to the next support level of 1.335. The pair is expected to find its first resistance at 1.3498, and a rise through could take it to the next resistance level of 1.3558.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
