GBPUSD Movement
On Friday, GBP fell 0.60% against the USD and closed at 1.5630.
On the macro front, the UK’s seasonally adjusted Nationwide house prices advanced 0.3% on a monthly basis, posting its second-consecutive month rise in November, at par with market estimates. House prices had recorded a rise of 0.5% in October.
In the Asian session, at GMT0400, the pair is trading at 1.5612, with the GBP trading 0.11% lower from Friday’s close.
The pair is expected to find support at 1.5556, and a fall through could take it to the next support level of 1.5500. The pair is expected to find its first resistance at 1.5697, and a rise through could take it to the next resistance level of 1.5783.
Trading trends in the Pound today are expected to be determined by the UK’s manufacturing PMI data, scheduled in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
