For the 24 hours to 23:00 GMT, the GBP traded flat against the USD and closed at 1.2338 on Friday, amid reports that the UK government has filed papers claiming that Prime Minister, Boris Johnson, would request the European Union for an extension if Britain fails to reach a deal by 19 October 2019.
In the Asian session, at GMT0300, the pair is trading at 1.2328, with the GBP trading 0.08% lower against the USD from Friday’s close, amid ongoing uncertainty surrounding the Brexit.
The pair is expected to find support at 1.2284, and a fall through could take it to the next support level of 1.2239. The pair is expected to find its first resistance at 1.2365, and a rise through could take it to the next resistance level of 1.2401.
Moving ahead, investors would keep an eye on Halifax house prices index for September, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
