GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined slightly against the USD and closed at 1.2943.
Data revealed that UK’s Halifax house price index advanced 3.3% on a yearly basis in the three months ended May-July 2018, marking its largest increase in 9-months and more than market expectations for a rise of 2.7%. In the April-June 2018 period, the index had risen 1.8%.
In the Asian session, at GMT0300, the pair is trading at 1.2943, with the GBP trading flat against the USD from yesterday’s close.
The pair is expected to find support at 1.2920, and a fall through could take it to the next support level of 1.2897. The pair is expected to find its first resistance at 1.2970, and a rise through could take it to the next resistance level of 1.2997.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving averages.
