GBPUSD Movement
On Friday, GBP rose 0.76% against the USD and closed at 1.5339.
Pound was supported after the Standard &Poor’s retained Britain’s sovereign credit rating at ‘AAA’, citing the government capability to meet its fiscal challenges.
Meanwhile, Halifax house prices on Friday rose 0.2% in March, in line with market expectations and compared to a 0.5% increase recorded in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.5328, with the GBP trading marginally lower from Friday’s close.
The pair is expected to find support at 1.5230, and a fall through could take it to the next support level of 1.5131. The pair is expected to find its first resistance at 1.5396, and a rise through could take it to the next resistance level of 1.5463.
Today, the BRC retail sales monitor and RICS house price balance data from the UK are expected to be on investors’ radar.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
