GBPUSD Movement
On Friday, GBP rose 0.07% against the USD and closed at 1.6160. The US Dollar came under pressure after the Fed policymakers’, on Thursday, hinted that the central bank should not start tapering its $85 billion asset-purchase programme at its October policy meeting to deal with the negative impact of a government shutdown on the economy.
In the Asian session, at GMT0300, the pair is trading at 1.6160, with the GBP trading flat from Friday’s close. Earlier today, a report from the UK, showed that the Rightmove house price index advanced 2.8% (MoM) in October, compared to a 1.5% drop registered in the previous month.
The pair is expected to find support at 1.6127, and a fall through could take it to the next support level of 1.6093. The pair is expected to find its first resistance at 1.6210, and a rise through could take it to the next resistance level of 1.6259.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
