For the 24 hours to 23:00 GMT, the GBP declined 2.30% against the USD and closed at 1.2728.
In the Asian session, at GMT0300, the pair is trading at 1.2738, with the GBP trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2656, and a fall through could take it to the next support level of 1.2574. The pair is expected to find its first resistance at 1.2783, and a rise through could take it to the next resistance level of 1.2828.
Going forward, traders would keep a watch on UK’s RICS housing price balance for May, slated to release overnight.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
