GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 1.13% against the USD and closed at 1.3105.
In the Asian session, at GMT0300, the pair is trading at 1.3185, with the GBP trading 0.61% higher against the USD from yesterday’s close.
Overnight data indicated that, UK’s RICS housing price balance slipped to 16.0% in June, after recording a gain of 19.0% in the previous month and compared to market expectations for a gain of 8.0%. The slowdown was partly attributed to uncertainty over the EU referendum last month.
The pair is expected to find support at 1.3081, and a fall through could take it to the next support level of 1.2977. The pair is expected to find its first resistance at 1.3309, and a rise through could take it to the next resistance level of 1.3433.
Moving ahead, investors will keep a close watch on BoE’s interest rate decision, slated to be released in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
