GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.18% against the USD, on Friday, and closed at 1.5788.
In the Asian session, at GMT0400, the pair is trading at 1.5745, with the GBP trading 0.27% lower from Friday’s close, after housing market activity in the U.K. weakened considerably in November, amid looming economic uncertainty stemming from the European debt crisis.
In the UK, this morning, the Rightmove house price index declined 3.1% (M-o-M) in November, following 2.8% rise in the previous month.
The pair is expected to find support at 1.5690, and a fall through could take it to the next support level of 1.5634. The pair is expected to find its first resistance at 1.5845, and a rise through could take it to the next resistance level of 1.5944.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
