For the 24 hours to 23:00 GMT, the GBP rose 0.36% against the USD and closed at 1.2783.
In the Asian session, at GMT0400, the pair is trading at 1.2769, with the GBP trading 0.11% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2709, 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 1.2821, and a rise through could take it to the next resistance level of 1.2872.
Moving forward, traders would closely monitor UK’s Halifax house prices for November, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr and trading above its 50 Hr moving averages.
