For the 24 hours to 23:00 GMT, the GBP rose 0.38% against the USD and closed at 1.2542, amid optimism over Brexit talks.

On the data front, UK’s Halifax house prices slid 0.1% on a monthly basis in June, less than market forecast for a drop of 0.9%. In the previous month, house prices had recorded a fall of 0.2%.

In the Asian session, at GMT0300, the pair is trading at 1.2558, with the GBP trading 0.13% higher against the USD from yesterday’s close.

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The pair is expected to find support at 1.2483, and a fall through could take it to the next support level of 1.2409. The pair is expected to find its first resistance at 1.2612, and a rise through could take it to the next resistance level of 1.2667.

Moving ahead, traders would keep a watch on UK’s RICS housing price balance for June, slated to release overnight.

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


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