For the 24 hours to 23:00 GMT, the GBP declined 0.83% against the USD and closed at 1.2415.
In the Asian session, at GMT0300, the pair is trading at 1.2413, with the GBP trading marginally lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2368, 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 1.2497, and a rise through could take it to the next resistance level of 1.2582.
Moving forward, traders would keep a watch on UK’s CBI distributive trades survey realised for June, slated to release in later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
