GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.18% against the USD and closed at 1.5640.
In the Asian session, at GMT0400, the pair is trading at 1.5655, with the GBP trading 0.1% higher from yesterday’s close.
This morning, the Royal Institution of Chartered Surveyors (RICS) reported that, on a seasonally adjusted basis, the House Price Balance Index in the UK rose to a reading of -13.0 in February, marking the highest level since July 2010 and compared to a reading of -16.0 posted in January.
The pair is expected to find support at 1.5607, and a fall through could take it to the next support level of 1.5558. The pair is expected to find its first resistance at 1.5699, and a rise through could take it to the next resistance level of 1.5744.
Trading trends in the pair today are expected to be determined by the release of visible trade balance and house prices in the UK.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
