GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.21% against the USD, on Friday and closed at 1.6316.
In the UK, house prices rose by 1.7% (M-o-M) in April from 0.8% rise in the previous month.
In the US, the industrial production, on monthly basis, increased by 0.8% in March following an upwardly revised 0.1% increase in February. The Treasury International Capital System (TIC) showed total inflows of $97.7 billion in February, considerably higher than the $30.6 billion in January. Additionally, the consumer price index increased by 0.5% (M-o-M) in March, compared to a 0.5% rise recorded in February. Additionally, the Reuters/Michigan consumer sentiment index (P) rose to 69.6 in April from previous 67.5.
The pair opened the Asian session at 1.6316, and is trading at 1.6307 at 3.00GMT. The pair is trading 0.06% lower from the New York session close.
The pair has its first short term resistance at 1.6359, followed by the next resistance at 1.6411. The first support is at 1.6266, with the subsequent support at 1.6225.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
