GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.56% against the USD and closed at 1.2944 on Friday.
In the Asian session, at GMT0300, the pair is trading at 1.2909, with the GBP trading 0.27% lower against the USD from Friday’s close, after Britain’s lawmakers delayed the Brexit vote and requested to extend the deadline.
Overnight data showed that in the UK, the Rightmove house price index climbed 0.6% on a monthly basis in October, compared to a drop of 0.2% in the previous month.
The pair is expected to find support at 1.2838, and a fall through could take it to the next support level of 1.2766. The pair is expected to find its first resistance at 1.2983, and a rise through could take it to the next resistance level of 1.3056.
With no macroeconomic releases in the UK today, investor sentiment would be determined by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
