For the 24 hours to 23:00 GMT, the GBP rose 0.49% against the USD and closed at 1.2148 on Friday.

In the Asian session, at GMT0300, the pair is trading at 1.2149, with the GBP trading a tad higher against the USD from Friday’s close.

Overnight data showed that UK’s Rightmove house price index fell 1.0% on a monthly basis in August, following a decline of 0.2% in the prior month.

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The pair is expected to find support at 1.2096, and a fall through could take it to the next support level of 1.2044. The pair is expected to find its first resistance at 1.2188, and a rise through could take it to the next resistance level of 1.2228.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.


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