GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.18% against the USD and closed at 1.6204, over mixed US economic data.
In the US, the net long-term TIC flows increased in March to $116.0 billion compared to $95.6 billion in February.
The pair opened the Asian session at 1.6204, and is trading at 1.6190 at 3.00GMT. The pair is trading 0.09% lower from the New York session close.
The pair has its first short term resistance at 1.6245, followed by the next resistance at 1.6299. The first support is at 1.6146, with the subsequent support at 1.6101.
With a series of UK economic releases today, including consumer price index and retail price index, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
