For the 24 hours to 23:00 GMT, the GBP declined 0.24% against the USD and closed at 1.2693.

In the Asian session, at GMT0300, the pair is trading at 1.2690, with the GBP trading slightly lower against the USD from yesterday’s close.

Overnight data showed that UK’s RICS house price balance climbed to -10.0% in May, compared to market consensus for of a rise to -21.0%. In the prior month, house price balance had registered a revised reading of -22.0%.

- advertisement -

The pair is expected to find support at 1.2662, and a fall through could take it to the next support level of 1.2633. The pair is expected to find its first resistance at 1.2739, and a rise through could take it to the next resistance level of 1.2787.

Amid lack of economic releases in UK today, traders would focus on global macroeconomic events for further direction.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.