GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP trade flat against the USD and closed at 1.3569.
Macroeconomic data showed that UK’s Halifax house price index recorded an unexpected drop of 0.6% on a monthly basis in December, declining for the first time since June 2017 and pointing to a slowdown in the nation’s housing sector. The index had registered a revised gain of 0.3% in the prior month, while investors had envisaged for a rise of 0.2%.
In the Asian session, at GMT0400, the pair is trading at 1.3579, with the GBP trading 0.07% higher against the USD from yesterday’s close.
Overnight data indicated that the nation’s BRC retail sales across all sectors grew more-than-expected by 0.6% YoY in December, compared to a similar rise in the previous month.
The pair is expected to find support at 1.3540, and a fall through could take it to the next support level of 1.3500. The pair is expected to find its first resistance at 1.3602, and a rise through could take it to the next resistance level of 1.3624.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
