GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 1.77% against the USD and closed at 1.3308.
In the Asian session, at GMT0400, the pair is trading at 1.3252, with the GBP trading 0.42% lower against the USD from yesterday’s close.
Overnight data showed that UK’s RICS house price balance declined to a level of -28.0 in February, marking its lowest level since May 2011 and compared to a level of -22.0 in the previous month.
The pair is expected to find support at 1.3095, and a fall through could take it to the next support level of 1.2938. The pair is expected to find its first resistance at 1.3395, and a rise through could take it to the next resistance level of 1.3538.
In absence of key economic releases in UK today, investor sentiment would be determined by global macroeconomic events.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
