GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 1.16% against the USD and closed at 1.5184.
In the Asian session, at GMT0400, the pair is trading at 1.5179, with the GBP trading marginally lower from yesterday’s close.
Early morning data showed that UK’s RICS house price balance dropped to 49% in November, compared to an upwardly revised 50% in the previous month. Investors had forecasted a reading of 48% in November.
The pair is expected to find support at 1.5059, and a fall through could take it to the next support level of 1.4938. The pair is expected to find its first resistance at 1.5249, and a rise through could take it to the next resistance level of 1.5318.
Moving ahead, market participants will concentrate on the BoE’s interest rate decision, scheduled to be announced later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
