GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 1.45% against the USD and closed at 1.3597 on Friday, propelled by upbeat comments from one of the dovish Bank of England’s (BoE) committee member.
The BoE policymaker, Gertjan Vlieghe, vowed for a near-term interest rate hike, if the economy continues to strengthen as expected.
In the Asian session, at GMT0300, the pair is trading at 1.3593, with the GBP trading slightly lower against the USD from Friday’s close.
Overnight data revealed that the nation’s Rightmove house price index eased 1.2% on a monthly basis in September, following a drop of 0.9% in the prior month.
The pair is expected to find support at 1.3447, and a fall through could take it to the next support level of 1.3302. The pair is expected to find its first resistance at 1.3677, and a rise through could take it to the next resistance level of 1.3762.
Trading trend in the Pound today is expected to be determined by a speech from the BoE Governor, Mark Carney, scheduled later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
