For the 24 hours to 23:00 GMT, the GBP rose 0.23% against the USD and closed at 1.3292 on Friday, on expectations that the UK could be offered a two-year Brexit transition deal.
In the Asian session, at GMT0300, the pair is trading at 1.3291, with the GBP trading a tad lower against the USD from Friday’s close.
Overnight data showed that UK’s Rightmove house price index rebounded 1.1% MoM in October. The price index had fallen 1.2% in the previous month.
The pair is expected to find support at 1.3247, and a fall through could take it to the next support level of 1.3202. The pair is expected to find its first resistance at 1.3337, and a rise through could take it to the next resistance level of 1.3382.
With no macroeconomic releases in the UK today, investor sentiment would be governed by global macroeconomic events.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.