For the 24 hours to 23:00 GMT, the GBP declined 0.46% against the USD and closed at 1.2538, amid raising concerns over no-deal Brexit as Boris Johnson is likely to be the Prime Minister of UK.
In the Asian session, at GMT0300, the pair is trading at 1.2524, with the GBP trading 0.11% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2489, and a fall through could take it to the next support level of 1.2453. The pair is expected to find its first resistance at 1.2583, and a rise through could take it to the next resistance level of 1.2641.
Gong forward, investors would keep an eye on the Bank of England’s Governor Mark Carney’s speech, due later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
