GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.01% against the USD on Friday and closed at 1.6271.
In the US, factory orders rose by 3.1% (M-o-M) in January from upwardly revised 1.4% the previous month, beating market expectations. In the UK, the Halifax house price index fell 2.8% in February, the biggest decline since October 2009.
The pair opened the Asian session at 1.6277, and is trading at 1.6249 at 4.00GMT. The pair is trading 0.14% lower from the New York session close.
The pair has its first short term resistance at 1.6291, followed by the next resistance at 1.6334. The first support is at 1.6221, with the subsequent support at 1.6194.
Trading trends in the pair today are expected to be determined by data release on BRC retail sales monitor and RICS house price balance in the UK.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
