For the 24 hours to 23:00 GMT, the GBP declined 0.76% against the USD and closed at 1.3322 on Friday, after the European Union (EU) leaders agreed to move on to the second phase of Brexit negotiations, but warned that the second phase will be significantly harder than the first.
In the Asian session, at GMT0400, the pair is trading at 1.3336, with the GBP trading 0.11% higher against the USD from Friday’s close.
The pair is expected to find support at 1.3277, and a fall through could take it to the next support level of 1.3217. The pair is expected to find its first resistance at 1.3421, and a rise through could take it to the next resistance level of 1.3505.
Going ahead, traders would look forward to UK’s CBI industrial trends total orders for December, slated to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
