GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.32% against the USD and closed at 1.2287.
Data showed that UK’s Halifax house price index rose 1.1% on a yearly basis in September, less than market expectation for a rise of 1.6%. The index had recorded a revised advance of 1.8% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2295, with the GBP trading 0.07% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2276, and a fall through could take it to the next support level of 1.2258. The pair is expected to find its first resistance at 1.2323, and a rise through could take it to the next resistance level of 1.2352.
Going ahead, traders await the Bank of England Governor, Mark Carney’s speech, due in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
