GBPUSD Movement
For the 24 hours to 23:00 GMT, the GBP rose 0.27% against the USD and closed at 1.2748 on Friday.
In the Asian session, at GMT0300, the pair is trading at 1.2743, with the GBP trading slightly lower against the USD from Friday’s close.
On the data front, UK’s Rightmove house price index dropped 2.3% on a monthly basis in August. In the prior month, the index had registered a drop of 0.1%.
The pair is expected to find support at 1.2709, and a fall through could take it to the next support level of 1.2676. The pair is expected to find its first resistance at 1.2765, and a rise through could take it to the next resistance level of 1.2788.
Amid lack of economic releases in the UK today, traders would focus on global macroeconomic events for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
