GBP/USD: UK Halifax house prices advanced at their fastest rate since February


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP marginally rose against the USD and closed at 1.3173.

Data showed that the UK Halifax house price index rose 4.5% on a yearly basis in the August to October period, meeting market projections. In the July-September period, the house price index had climbed 4.0%.

In the Asian session, at GMT0400, the pair is trading at 1.3169, with the GBP trading a tad lower from yesterday’s close.

The pair is expected to find support at 1.3126, and a fall through could take it to the next support level of 1.3083. The pair is expected to find its first resistance at 1.3195, and a rise through could take it to the next resistance level of 1.3221.

Going ahead, Britain’s RICS house price balance for October, slated to release overnight, would be assessed by traders.

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

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