For the 24 hours to 23:00 GMT, the GBP declined 4.51% against the USD and closed at 1.2440.
In the Asian session, at GMT0300, the pair is trading at 1.24, with the GBP trading 0.32% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2362, and a fall through could take it to the next support level of 1.2324. The pair is expected to find its first resistance at 1.2465, and a rise through could take it to the next resistance level of 1.2530.
Moving ahead, traders would keep a watch on UK’s ILO unemployment rate and average earnings including bonus, both for February, slated to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
