For the 24 hours to 23:00 GMT, the GBP rose 0.53% against the USD and closed at 1.2773.
In the Asian session, at GMT0400, the pair is trading at 1.2853, with the GBP trading 0.63% higher against the USD from yesterday’s close, amid reports that British Prime Minister, Theresa May has struck a deal with the European Union on financial services.
The pair is expected to find support at 1.2751, and a fall through could take it to the next support level of 1.2648. The pair is expected to find its first resistance at 1.2906, and a rise through could take it to the next resistance level of 1.2958.
Moving forward, investors would closely monitor the Bank of England’s (BoE) interest rate decision along with UK’s Markit manufacturing PMI and the Nationwide house price index, both for October, set to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
