For the 24 hours to 23:00 GMT, the GBP declined 0.17% against the USD and closed at 1.3136 on Friday.

In economic news, UK’s Halifax house prices rose 2.1% on a yearly basis in the September-November 2019 period, hitting its highest level in 7 months and following a rise of 0.9% in the August-October 2019 period.

In the Asian session, at GMT0400, the pair is trading at 1.3144, with the GBP trading 0.06% higher against the USD from Friday’s close.

- advertisement -

The pair is expected to find support at 1.3108, and a fall through could take it to the next support level of 1.3072. The pair is expected to find its first resistance at 1.3173, and a rise through could take it to the next resistance level of 1.3202.

In absence of key economic releases in UK today, investor sentiment would be determined by global macroeconomic events.

The currency pair is showing convergence with 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.