GBPUSD Movement
On Friday, GBP fell marginally against the USD and closed at 1.5703,
On the economic front, UK’s construction output dropped 1.1% (YoY) in April, against the expected 4.1% drop and following a 7.2% drop reported in March. The Conference Board leading economic index (LEI) rose 0.2% in April, following a rise of 0.4% recorded in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.5701, with the GBP trading marginally lower from Friday’s close.
This morning, the Rightmove house price index in UK climbed 2.7% annually in June, compared to a 2.5% rise in May.
The pair is expected to find support at 1.5634, and a fall through could take it to the next support level of 1.5566. The pair is expected to find its first resistance at 1.5751, and a rise through could take it to the next resistance level of 1.5800.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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