GBPUSD Movement
For the 24 hours to 23:00 GMT on Friday, GBP rose 0.46% against the USD and closed at 1.6227, on broad dollar weakness
In the Asian session, at GMT0300, the pair is trading at 1.6221, with the GBP trading marginally lower from Friday’s close.
This morning, in the UK, Rightmove house prices fell 0.6% (MoM) in September, compared to 2.4% drop in August.
The pair is expected to find support at 1.6175, and a fall through could take it to the next support level of 1.6128. The pair is expected to find its first resistance at 1.6262, and a rise through could take it to the next resistance level of 1.6302.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
