GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.24% against the USD and closed at 1.3130.
Data indicated that, UK’s Halifax house price index advanced 1.5% on an annual basis in the three months ended October 2018, rising at its slowest pace in five years and compared to an increase of 2.5% in the May-July 2018 period. Market participants had expected the index to rise 1.3%.
In the Asian session, at GMT0400, the pair is trading at 1.3126, with the GBP trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3098, and a fall through could take it to the next support level of 1.3069. The pair is expected to find its first resistance at 1.3165, and a rise through could take it to the next resistance level of 1.3203.
In absence of key economic releases in the UK today, investor sentiment would be determined by global macroeconomic events.
The currency pair is trading in between its 20 Hr and 50 Hr moving averages.
