GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.17% against the USD and closed at 1.2145.
Data indicated that UK’s Halifax house prices unexpectedly fell 0.2% on a monthly basis in July, compared to a revised drop of 0.4% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.2173, with the GBP trading 0.23% higher against the USD from yesterday’s close.
Overnight data showed that the RICS house price balance slid to -9.0% in July, compared to a reading of -1.0% in the previous month.
The pair is expected to find support at 1.2133, and a fall through could take it to the next support level of 1.2093. The pair is expected to find its first resistance at 1.2201, and a rise through could take it to the next resistance level of 1.2230.
Amid lack of economic releases in UK today, traders would focus on global macroeconomic events for further direction.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
