GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP fell marginally against the USD and closed at 1.4625.
In economic news, UK’s Halifax house price index rebounded above expectations by 1.7% MoM in December, after registering a fall of 0.2% in the previous month and against investor expectations for an advance of 0.5%.
In the Asian session, at GMT0400, the pair is trading at 1.4636, with the GBP trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 1.4564, and a fall through could take it to the next support level of 1.4492. The pair is expected to find its first resistance at 1.4677, and a rise through could take it to the next resistance level of 1.4718.
Going ahead, investors await the release of UK’s total trade balance data for November, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
