GBPUSD Movement
On Friday, GBP rose marginally against the USD and closed at 1.5641.
In the Asian session, at GMT0300, the pair is trading at 1.5625, with the GBP trading slightly lower from Friday’s close.
Data released this morning indicated that the UK Rightmove house price index rose 5.5% annually in August, following an annual rise of 4.8% reported in July.
The pair is expected to find support at 1.5602, and a fall through could take it to the next support level of 1.5580. The pair is expected to find its first resistance at 1.5653, and a rise through could take it to the next resistance level of 1.5682.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
