GBPUSD Movement
On Friday, the GBP marginally declined 0.15% against the USD and closed at 1.5167.
In the Asian session, at GMT0400, the pair is trading at 1.5138, with the GBP trading 0.19% lower from Friday’s close.
Earlier today, a leading private agency, Ernest and Young increased its economic growth forecast for the UK to 2.9% in 2015, up from its earlier estimation of 2.5%.
Overnight data showed that Britain’s Rightmove house price index advanced 1.4% on a MoM basis in January, compared to a 2.2% drop recorded in prior month.
The pair is expected to find support at 1.5063, and a fall through could take it to the next support level of 1.4988. The pair is expected to find its first resistance at 1.5225, and a rise through could take it to the next resistance level of 1.5311.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
