GBPUSD Movement
On Friday, GBP rose marginally against the USD and closed at 1.5383.
In the Asian session, at GMT0300, the pair is trading at 1.5386, with the GBP trading marginally higher from Friday’s close.
Data released this morning revealed that UK house prices increased 0.3% (MoM) in July, compared to a 0.4% rise in June.
The pair is expected to find support at 1.5355, and a fall through could take it to the next support level of 1.5325. The pair is expected to find its first resistance at 1.5417, and a rise through could take it to the next resistance level of 1.5449.
In the day ahead, investors are eyeing data of mortgage approvals, net lending to individuals and the CBI distributive trades survey data in the UK.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
