GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.51% against the USD and closed at 1.3290 on Friday.
In the economic news, UK’s Halifax house price index rose 1.8% on yearly basis in the three-months ended April-June 2018, more than market expectations for a gain of 1.6%. The index advanced by a revised 1.9% in March-May 2018.
In the Asian session, at GMT0300, the pair is trading at 1.3295, with the GBP trading marginally higher against the USD from Friday’s close.
The pair is expected to find support at 1.3228, and a fall through could take it to the next support level of 1.3160. The pair is expected to find its first resistance at 1.3340, and a rise through could take it to the next resistance level of 1.3384.
Amid lack of major macroeconomic releases in the UK today, traders would focus on global macroeconomic events for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
