HomeContributorsFundamental AnalysisUK's Nationwide House Prices Index Advanced In January

UK’s Nationwide House Prices Index Advanced In January

For the 24 hours to 23:00 GMT, the GBP declined 0.08% against the USD and closed at 1.3107.

In economic news, UK’s seasonally adjusted Nationwide house prices index rebounded 0.3% on a monthly basis in January, compared to a fall of 0.7% in the previous month. Market participants had anticipated the index to advance 0.2%.

In the Asian session, at GMT0400, the pair is trading at 1.3096, with the GBP trading 0.08% lower against the USD from yesterday’s close.

The pair is expected to find support at 1.3062, and a fall through could take it to the next support level of 1.3028. The pair is expected to find its first resistance at 1.3145, and a rise through could take it to the next resistance level of 1.3194.

Looking ahead, investors would await UK’s Markit manufacturing PMI for January, scheduled to release in a few hours.

The currency pair is trading below 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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