GBP/USD: British Pound reverses its losses in the Asian session


GBPUSD Movement

For the 24 hours to 23:00 GMT, the GBP declined 0.41% against the USD and closed at 1.3033 on Friday.

In the Asian session, at GMT0400, the pair is trading at 1.3046, with the GBP trading 0.10% higher against the USD from Friday’s close.

Overnight data showed that UK’s Rightmove house price index climbed 0.8% on a monthly basis in February. The Rightmove house price index had recorded a rise of 2.3% in the previous month.

The pair is expected to find support at 1.3010, and a fall through could take it to the next support level of 1.2975. The pair is expected to find its first resistance at 1.3072, and a rise through could take it to the next resistance level of 1.3099.

With no macroeconomic releases in Britain today, investor sentiment would be governed by global macroeconomic events.

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

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