GBPUSD Movement
On Friday, GBP fell 0.35% against the USD and closed at 1.6440.
In the Asian session, at GMT0400, the pair is trading at 1.6427, with the GBP trading 0.08% lower from Friday’s close. Early morning, a report showed that, on a seasonally adjusted basis, the Hometrack house prices in the UK rose 0.3% (MoM) in January, following a 0.5% rise registered in the previous month.
The pair is expected to find support at 1.6401, and a fall through could take it to the next support level of 1.6376. The pair is expected to find its first resistance at 1.6470, and a rise through could take it to the next resistance level of 1.6514.
Market participants keenly await the release of UK Markit manufacturing PMI data, due later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
