GBPUSD Movement
For the 24 hours to 23:00 GMT on Friday, GBP rose 0.33% against the USD and closed at 1.5683.
In the UK economic news, output price inflation eased to 1.7% (YoY) in July, from 2.0% in June. Additionally, input prices fell 2.4% (YoY) in July, against the expectations for a 1.5% fall.
In the Asian session, at GMT0300, the pair is trading at 1.5671, with the GBP trading 0.08% lower from Friday’s close.
The pair is expected to find support at 1.5599, and a fall through could take it to the next support level of 1.5527. The pair is expected to find its first resistance at 1.5722, and a rise through could take it to the next resistance level of 1.5773.
In the UK, RICS housing price balance data due today is likely to remain in the contraction region in July.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
