GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.37% against the USD and closed at 1.6412.
In the UK, the Halifax house prices declined 1.4% in April, following a flat reading recorded in the previous month. The BRC retail sales, on annual basis, increased by 5.2% in April, following a 3.5% decline recorded in the previous month. Additionally, the Royal Institution of Chartered Surveyors revealed that house price balance rose to -21.0% in April, the highest level since July 2010, compared to a reading of -23.0% recorded in the previous month.
The pair opened the Asian session at 1.6412 and is trading at 1.6406 at 3.00GMT. The pair is trading 0.04% lower from the New York session close.
The pair has its first short term resistance at 1.6462, followed by the next resistance at 1.6519. The first support is at 1.6307, with the subsequent support at 1.6209.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
