For the 24 hours to 23:00 GMT, the GBP declined 0.33% against the USD and closed at 1.3934.
In the Asian session, at GMT0300, the pair is trading at 1.3940, with the GBP trading a tad higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3914, and a fall through could take it to the next support level of 1.3888. The pair is expected to find its first resistance at 1.3976, and a rise through could take it to the next resistance level of 1.4012.
Moving ahead, investors would closely monitor UK’s BBA mortgage approvals data for March, set to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
