GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.37% against the USD and closed at 1.5457.
In the Asian session, at GMT0300, the pair is trading at 1.5465, with the GBP trading tad higher from yesterday’s close.
In the UK, the Royal Institute of Chartered Surveyors (RICS) house price balance rose to a reading of 36.0 in July, showing the highest reading since November 2006, from a reading of 21.0 in June.
Traders are expecting much of the action ahead in the day in the UK, wherein the key consumer price inflation data, along with producer prices, retail sales and house price index data are due to release, which would provide insights about health of the UK economy.
The pair is expected to find support at 1.5441, and a fall through could take it to the next support level of 1.5416. The pair is expected to find its first resistance at 1.5496, and a rise through could take it to the next resistance level of 1.5526.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
