GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.54% against the USD and closed at 1.2610.
On the data front, UK’s RICS housing price balance rose to -15.0% in June, more than market expectations for a rise to -25.0%. In the previous month, house price balance had recorded a level of -32.0%.
In the Asian session, at GMT0300, the pair is trading at 1.2611, with the GBP trading marginally higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2537, and a fall through could take it to the next support level of 1.2463. The pair is expected to find its first resistance at 1.2657, and a rise through could take it to the next resistance level of 1.2703.
Amid lack of macroeconomic releases in the UK today, investor sentiment would be determined by global macroeconomic factors.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
