GBP/USD: Sterling trading slightly lower, ahead of crucial economic data


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.05% against the USD and closed at 1.2923 on Friday.

On the macro front, Halifax house price index advanced 3.7% in the three months to June-August 2018, at par with market expectations. In the May-July 2018 period, the index had climbed 3.3%.

In the Asian session, at GMT0300, the pair is trading at 1.2919, with the GBP trading a tad lower against the USD from Friday’s close.

The pair is expected to find support at 1.2876, and a fall through could take it to the next support level of 1.2833. The pair is expected to find its first resistance at 1.2995, and a rise through could take it to the next resistance level of 1.3071.

Looking ahead, investors would await Britain’s GDP data, trade balance data, industrial production and manufacturing production, all for July, slated to release in a few hours.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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