For the 24 hours to 23:00 GMT, the GBP declined 0.68% against the USD and closed at 1.2340 on Friday, amid continuing uncertainty over Brexit deal.
In the Asian session, at GMT0300, the pair is trading at 1.2365, with the GBP trading 0.20% higher against the USD from Friday’s close.
The pair is expected to find support at 1.2308, and a fall through could take it to the next support level of 1.2250. The pair is expected to find its first resistance at 1.2430, and a rise through could take it to the next resistance level of 1.2494.
Moving ahead, traders would keep a watch on UK’s consumer credit and mortgage approvals, both for May, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
