- GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.49% against the USD and closed at 1.6285, after UK’s manufacturing and industrial data came in weaker-than-expected.
The National Institute of Economic and Social Research (NIESR) indicated that the Gross Domestic Product in the UK increased 0.3% for the quarter ended in April, following a 0.5% rise recorded for the quarter ended in March.
In the UK, the industrial production, on a monthly basis, increased 0.3% in March following a revised 1.2% decline recorded in February. Meanwhile, the manufacturing output grew 0.2% (M-o-M) in March, compared to a flat reading recorded in the previous month.
The pair opened the Asian session at 1.6285, and is trading at 1.6249 at 3.00GMT. The pair is trading 0.22% lower from the New York session close.
The pair has its first short term resistance at 1.6343, followed by the next resistance at 1.6438. The first support is at 1.6192, with the subsequent support at 1.6136.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
