GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.47% against the USD and closed at 1.3143, after UK’s seasonally adjusted Nationwide house prices unexpectedly rose by 0.6% on a monthly basis in August, compared to market expectations for a drop of 0.2% and following a rise of 0.5% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3148, with the GBP trading slightly higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3095, and a fall through could take it to the next support level of 1.3042. The pair is expected to find its first resistance at 1.3179, and a rise through could take it to the next resistance level of 1.3210.
Looking ahead, market participants would await the release of UK’s Markit manufacturing PMI data for August, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
