GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.34% against the USD and closed at 1.6018.
In the UK, claimant count rate remained unchanged at 4.5% in February. Additionally, the average earnings including bonus grew 2.3% (Y-o-Y) for the quarter ended in January, compared to growth rate of 1.8% in the quarter ended in December. Meanwhile, unemployment rate rose to 8.0% for the quarter ended in January, following an unemployment rate of 7.9% in the previous quarter.
The pair opened the Asian session at 1.6018, and is trading at 1.6007 at 4.00GMT. The pair is trading 0.07% lower from the New York session close.
The pair has its first short term resistance at 1.6100, followed by the next resistance at 1.6194. The first support is at 1.5944, with the subsequent support at 1.5882.
Trading trends in the pair today are expected to be determined by data release on nationwide consumer confidence and consumer inflation expectations in the UK.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
