GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.46% against the USD and closed at 1.2524 on Friday.
Data indicated that UK’s Halifax house price index fell 0.3% on a monthly basis in June. The index had recorded an advance of 0.5% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.2524, with the GBP trading flat against the USD from Friday’s close.
The pair is expected to find support at 1.2474, and a fall through could take it to the next support level of 1.2424. The pair is expected to find its first resistance at 1.2581, and a rise through could take it to the next resistance level of 1.2638.
Going ahead, traders would await UK’s BRC sales like-for-like for June, slated to release overnight.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
