GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.41% against the USD and closed at 1.2721.
In economic news, UK’s Halifax house price index rose 1.3% in the three months ended December 2018, rising at its quickest pace in two-years and compared to an advance of 0.3% in the September-November 2018 period. Markets participants had anticipated the index to record a gain of 0.4%.
In the Asian session, at GMT0400, the pair is trading at 1.2736, with the GBP trading 0.12% higher against the USD from yesterday’s close.
The pair is expected to find support at 1.2696, and a fall through could take it to the next support level of 1.2657. The pair is expected to find its first resistance at 1.2786, and a rise through could take it to the next resistance level of 1.2837.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
