GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 1.51% against the USD and closed at 1.2889 on Friday.
Data indicated that UK’s Halifax house prices climbed 4.1% on a yearly basis in the November-January 2020 period, surpassing market forecast for a rise of 3.0%. In the October-December 2019 period, the Halifax house prices had risen 4.0%.
In the Asian session, at GMT0400, the pair is trading at 1.2896, with the GBP trading 0.05% higher against the USD from Friday’s close.
The pair is expected to find support at 1.2866, and a fall through could take it to the next support level of 1.2837. The pair is expected to find its first resistance at 1.2942, and a rise through could take it to the next resistance level of 1.2989.
With no macroeconomic releases in the UK today, investor sentiment would be determined by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
