HomeContributorsFundamental AnalysisUK's Rightmove House Price Index Advanced In December

UK’s Rightmove House Price Index Advanced In December

For the 24 hours to 23:00 GMT, the GBP declined 1.05% against the USD and closed at 1.3337 on Friday.

On the data front, the Bank of England (BoE) reports that it expects consumer inflation expectations to advance 3.1% in 2020, compared to a rise of 3.3% in 2019.

In the Asian session, at GMT0400, the pair is trading at 1.3390, with the GBP trading 0.40% higher against the USD from Friday’s close.

Earlier in the session, data revealed that Britain’s Rightmove house price index rose 0.8% on a yearly basis in December, compared to an increase of 0.3% in the previous month.

The pair is expected to find support at 1.3303, and a fall through could take it to the next support level of 1.3216. The pair is expected to find its first resistance at 1.3480, and a rise through could take it to the next resistance level of 1.3570.

Moving ahead, investors would await UK’s Markit manufacturing and services PMIs for December, scheduled to release in a few hours.

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

GCI Financial
GCI Financialhttp://www.gcitrading.com/
DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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