GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.44% against the USD, on Friday, and closed at 1.5813.
In the UK, on a monthly basis, the construction output rose 0.4% in August. Additionally, this morning, the Rightmove House Price Index rose 2.8% (M-o-M) in October, following a 0.7% growth in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.5807, with the GBP trading slightly lower from Friday’s close.
The pair is expected to find support at 1.5744, and a fall through could take it to the next support level of 1.5680. The pair is expected to find its first resistance at 1.5862, and a rise through could take it to the next resistance level of 1.5916.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
