GBP/USD: UK mortgage approvals rose less-than-expected in November, indicates BBA

 

GBP USD

GBPUSD Movement

For the 24 hours to 23:00 GMT, GBP fell marginally against the USD and closed at 1.6114, after

UK’s British Banker’s Association (BBA) reported that the number of new mortgages approved in November rose to 33,634 approvals from a revised 33,128 approvals in October. The expected level was 34,500.

In the Asian session, at GMT0400, the pair is trading at 1.6119, with the GBP trading marginally higher from yesterday’s close.

The pair is expected to find support at 1.6056, and a fall through could take it to the next support level of 1.5994. The pair is expected to find its first resistance at 1.6192, and a rise through could take it to the next resistance level of 1.6265.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

This entry was posted in GBP/USD. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>