GBPUSD is trading 0.03 percent higher at 1.2530 as USD is under selling pressure after hitting two weeks high last Friday. On the Brexit front the Irish Prime Minister Varadkar, commented that in the event of no deal Brexit, keeping the border open is a very difficult situation for us, and is required a regulatory alignment.
On technical side the bearish momentum persists as the pair trading below all the major hourly and daily moving averages. Support for the pair stands at today’s low at 1.2511 and then at 1.2480 the low from July 5th. On the upside immediate resistance stands at 1.2551 the 50 hour moving average and if the pair manages to close above it might continue with an attempt to 1.2623 the 200 hour moving average.Don’t miss a beat! Follow us on Twitter.