GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP traded marginally higher against the USD and closed at 1.5857.
In the UK, the Royal Institution of Chartered Surveyors’ (RICS) reported that, on a seasonally adjusted basis, the house price balance dropped to a reading of -23.0 in August, compared to a reading of -22.0 posted in July.
The pair opened the Asian session at 1.5857, and is trading at 1.5858 at 3.00GMT. GBP is trading flat versus USD from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.5906, followed by the next resistance at 1.5954. The first support is at 1.5790, with the subsequent support at 1.5722.
With a series of UK economic releases today, including Consumer Price Index (CPI) and Retail Price Index, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
