GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.10% against the USD and closed at 1.3015 on Friday.
On the macro front, UK’s Halifax house prices rose 2.8% on a yearly basis in the three months to February, less than market expectations for a rise of 4.0% and compared to an advance of 4.1% in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.3076, with the GBP trading 0.47% higher against the USD from Friday’s close.
The pair is expected to find support at 1.2976, and a fall through could take it to the next support level of 1.2875. The pair is expected to find its first resistance at 1.3151, and a rise through could take it to the next resistance level of 1.3225.
With no macroeconomic releases in Britain today, investor sentiment would be governed by global macroeconomic events.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
