GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.57% against the USD and closed at 1.6329.
In the UK, the Royal Institution of Chartered Surveyors (RICS) indicated that the index measuring house prices advanced to -22.0 in July, from an upwardly revised reading of -26.0 registered in June. Additionally, the British Retail Consortium (BRC) stated that, on an annual basis, the like-for-like sales unexpectedly increased 0.6% in July, from a 0.6% drop in June.
The pair opened the Asian session at 1.6329, and is trading at 1.6297 at 3.00GMT. The pair is trading 0.20% lower from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6425, followed by the next resistance at 1.6552. The first support is at 1.6217, with the subsequent support at 1.6136.
With a series of UK economic releases today, including manufacturing production and industrial production, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
