GBPUSD Movement
On Friday, GBP fell 0.45% against the USD and closed at 1.5104, after data showed larger-than-expected decline in UK construction output.
In the UK, construction output fell 3.4% (YoY) in May, against the expectation of a 2.8% drop. In a separate report, the Conference board (CB) leading economic index rose 0.4% in May, following a 0.2% rise registered in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.5120, with the GBP trading 0.11% higher from Friday’s close.
This morning, UK’s Rightmove house price index rose 4.8% annually in July, compared to a 2.7% rise reported in June.
The pair is expected to find support at 1.5068, and a fall through could take it to the next support level of 1.5015. The pair is expected to find its first resistance at 1.5181, and a rise through could take it to the next resistance level of 1.5241.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving average.
