GBPUSD Movement
For the 24 hours to 23:00 GMT on Friday, GBP rose 0.23% against the USD and closed at 1.5838, after retail sales in the UK unexpectedly rose 0.9% (MoM) in January, at the fastest pace since April 2011, and from a 0.6% rise in December.
In the Asian session, at GMT0400, the pair is trading at 1.5878, with the GBP trading 0.25% higher from Friday’s close.
This morning, Rightmove reported that the House Prices Index rose 4.1% (MoM) in February, marking the biggest rise since April 2002.
The pair is expected to find support at 1.5819, and a fall through could take it to the next support level of 1.5759. The pair is expected to find its first resistance at 1.5908, and a rise through could take it to the next resistance level of 1.5939.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
