GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.45% against the USD and closed at 1.2979 on Friday.
In the Asian session, at GMT0300, the pair is trading at 1.2952, with the GBP trading 0.21% lower against the USD from Friday’s close.
The pair is expected to find support at 1.291, and a fall through could take it to the next support level of 1.2869. The pair is expected to find its first resistance at 1.299, and a rise through could take it to the next resistance level of 1.3029.
Looking ahead, traders will keep a close watch on UK’s Halifax house prices for April, scheduled to release in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
