For the 24 hours to 23:00 GMT, the GBP declined 0.33% against the USD and closed at 1.4075, as reports about political divisions on Brexit sparked uncertainty over whether the UK Prime Minister, Theresa May would be able to clinch a divorce deal with the European Union.
In the Asian session, at GMT0400, the pair is trading at 1.4056, with the GBP trading 0.13% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.4005, and a fall through could take it to the next support level of 1.3955. The pair is expected to find its first resistance at 1.4127, and a rise through could take it to the next resistance level of 1.4199.
Going ahead, investors would focus on UK’s net consumer credit and mortgage approvals data, both for December, slated to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
