GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.41% against the USD and closed at 1.5583.
In the UK, this morning, the RICS House Price Balance Index rose to -17.0 in November, compared to -24.0 in October.
In the Asian session, at GMT0400, the pair is trading at 1.5614, with the GBP trading 0.20% higher from yesterday’s close.
The pair is expected to find support at 1.5548, and a fall through could take it to the next support level of 1.5483. The pair is expected to find its first resistance at 1.5669, and a rise through could take it to the next resistance level of 1.5723.
With a series of UK economic releases today, including Consumer Price Index (CPI) and Retail Price Index, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is showing convergence with its 50 Hr moving average and is trading above its 20 Hr moving average.
