GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP declined 0.08% against the USD and closed at 1.3107.
In economic news, UK’s seasonally adjusted Nationwide house prices index rebounded 0.3% on a monthly basis in January, compared to a fall of 0.7% in the previous month. Market participants had anticipated the index to advance 0.2%.
In the Asian session, at GMT0400, the pair is trading at 1.3096, with the GBP trading 0.08% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.3062, and a fall through could take it to the next support level of 1.3028. The pair is expected to find its first resistance at 1.3145, and a rise through could take it to the next resistance level of 1.3194.
Looking ahead, investors would await UK’s Markit manufacturing PMI for January, scheduled to release in a few hours.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
