For the 24 hours to 23:00 GMT, the GBP declined 5.43% against the USD and closed at 1.2320.
In the Asian session, at GMT0300, the pair is trading at 1.2328, with the GBP trading 0.06% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2260, and a fall through could take it to the next support level of 1.2191. The pair is expected to find its first resistance at 1.2371, and a rise through could take it to the next resistance level of 1.2413.
Moving forward, traders would keep an eye on UK’s Nationwide housing prices for May, slated to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.