GBPUSD Movement
On Friday, GBP fell 0.32% against the USD and closed at 1.5344.
In the UK economic news, construction output dropped 7.0% annually in February, following a revised 5.5% fall in January. Meanwhile, the Conference Board (CB) leading economic index climbed 0.4% in February.
In the Asian session, at GMT0300, the pair is trading at 1.5321, with the GBP trading 0.15% lower from Friday’s close.
This morning, Rightmove reported that the average asking price for a home in the UK rose 2.1% (MoM) in April, compared to a 1.7% rise reported in March.
The pair is expected to find support at 1.5283, and a fall through could take it to the next support level of 1.5244. The pair is expected to find its first resistance at 1.5386, and a rise through could take it to the next resistance level of 1.5450.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
