GBP/USD: UK’s house prices dropped for the fourth consecutive month in June

GBPUSD

GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP rose 0.38% against the USD and closed at 1.2542, amid optimism over Brexit talks.

On the data front, UK’s Halifax house prices slid 0.1% on a monthly basis in June, less than market forecast for a drop of 0.9%. In the previous month, house prices had recorded a fall of 0.2%.

In the Asian session, at GMT0300, the pair is trading at 1.2558, with the GBP trading 0.13% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2483, and a fall through could take it to the next support level of 1.2409. The pair is expected to find its first resistance at 1.2612, and a rise through could take it to the next resistance level of 1.2667.

Moving ahead, traders would keep a watch on UK’s RICS housing price balance for June, slated to release overnight.

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

This entry was posted in GBP/USD. Bookmark the permalink.

Comments are closed.