For the 24 hours to 23:00 GMT, the GBP declined 0.23% against the USD and closed at 1.3057 on Friday, amid fears of an interest rate cut in its upcoming policy meeting.
In the Asian session, at GMT0400, the pair is trading at 1.3038, with the GBP trading 0.15% lower against the USD from Friday’s close.
The pair is expected to find support at 1.3014, and a fall through could take it to the next support level of 1.2989. The pair is expected to find its first resistance at 1.3080, and a rise through could take it to the next resistance level of 1.3121.
Looking forward, traders would keep an eye on UK’s total trade balance, industrial production, manufacturing production and gross domestic product, all for November, slated to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
