Pound Trading On A Stronger Footing In The Asian Session
For the 24 hours to 23:00 GMT, the GBP declined 0.74% against the USD and closed at 1.4471.
In the Asian session, at GMT0400, the pair is trading at 1.451, with the GBP trading 0.27% higher from Friday’s close.
The pair is expected to find support at 1.4444, and a fall through could take it to the next support level of 1.4379. The pair is expected to find its first resistance at 1.4584, and a rise through could take it to the next resistance level of 1.4658.
Moving ahead, market participants will look forward to UK’s trade balance data, slated to release tomorrow.
The currency pair is showing convergence with its 20 Hr and trading below its 50 Hr moving average.