GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP marginally rose against the USD and closed at 1.2877 on Friday.
In the Asian session, at GMT0300, the pair is trading at 1.2877, with the GBP trading flat against the USD from Friday’s close.
Overnight data showed that Britain’s Rightmove house price index fell 0.9% on a monthly basis in August. In the previous month, the index had registered a rise of 0.1%.
The pair is expected to find support at 1.2834, and a fall through could take it to the next support level of 1.2790. The pair is expected to find its first resistance at 1.2919, and a rise through could take it to the next resistance level of 1.2960.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
