GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.68% against the USD and closed at 1.3083.
On the macro front, data showed that UK’s Halifax house price index advanced 5.9% on a monthly basis in February, overshooting market consensus for a rise of 0.1%. In the prior month, the index had recorded a revised fall of 3.0%.
In the Asian session, at GMT0400, the pair is trading at 1.3094, with the GBP trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3047, and a fall through could take it to the next support level of 1.3000. The pair is expected to find its first resistance at 1.3163, and a rise through could take it to the next resistance level of 1.3232.
Moving ahead, investors would keep an eye on UK’s gross domestic product, manufacturing production, industrial production and trade balance, all slated to release next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
