For the 24 hours to 23:00 GMT, the GBP declined 0.43% against the USD and closed at 1.2427, after Luxembourg Prime Minister, Xavier Bettel, stated that he would only delay the Brexit deadline if it serves a purpose.
In the Asian session, at GMT0300, the pair is trading at 1.2414, with the GBP trading 0.10% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2381, and a fall through could take it to the next support level of 1.2349. The pair is expected to find its first resistance at 1.2464, and a rise through could take it to the next resistance level of 1.2515.
With no macroeconomic releases in the UK today, investor sentiment would be determined by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
