For the 24 hours to 23:00 GMT, the GBP declined 3.47% against the USD and closed at 1.2576.
In the Asian session, at GMT0400, the pair is trading at 1.2556, with the GBP trading 0.16% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2421, and a fall through could take it to the next support level of 1.2287. The pair is expected to find its first resistance at 1.2760, and a rise through could take it to the next resistance level of 1.2965.
Looking ahead, investors would keep a close watch on the Bank of England’s meeting minutes, slated to release later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
