For the 24 hours to 23:00 GMT, the GBP declined 0.21% against the USD and closed at 1.3000.
On the macro front, UK’s CBI distributive trade survey’s retail sales advanced 1.0% in February, less than market expectations and compared to a flat reading in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.2991, with the GBP trading 0.07% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2940, and a fall through could take it to the next support level of 1.2889. The pair is expected to find its first resistance at 1.3030, and a rise through could take it to the next resistance level of 1.3069.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
Roz has been engaged in the financial markets since 2017, specializing in Foreign Exchange, Before joining to FOREX IN WORLD she start to learn forex trading related information.