GBP/USD: UK’s Rightmove house prices rebounded in July


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP rose 1.27% against the USD and closed at 1.3105 on Friday.

In the Asian session, at GMT0300, the pair is trading at 1.3102, with the GBP trading marginally lower against the USD from Friday’s close.

Overnight data indicated that Britain’s Rightmove house price index rebounded 0.1% on a monthly basis in July, following a drop of 0.4% in the previous month.

The pair is expected to find support at 1.2990, and a fall through could take it to the next support level of 1.2878. The pair is expected to find its first resistance at 1.3164, and a rise through could take it to the next resistance level of 1.3226.

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

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