GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 1.43% against the USD and closed at 1.3732 on Friday, triggered by reports that Spanish and Dutch Finance Ministers have agreed to work together to push for a “soft Brexit” deal.
In the Asian session, at GMT0400, the pair is trading at 1.3738, with the GBP trading slightly higher against the USD from Friday’s close.
Overnight data showed that UK’s Rightmove house price index rebounded 0.7% on a monthly basis in January, after recording a revised drop of 2.3% in the previous month.
The pair is expected to find support at 1.3601, and a fall through could take it to the next support level of 1.3464. The pair is expected to find its first resistance at 1.3812, and a rise through could take it to the next resistance level of 1.3886.
Amid a lack of macroeconomic releases in the UK today, investors would focus on global macroeconomic news for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
