GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.39% against the USD, on Friday, and closed at 1.6425.
In the UK, the business activity index fell to 53.8 in May, compared to a reading of 54.3 posted in the previous month.
The pair opened the Asian session at 1.6452, and is trading at 1.6442 at 3.00GMT. The pair is trading 0.10% higher from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6507, followed by the next resistance at 1.6572. The first support is at 1.6330, with the subsequent support at 1.6218.
Trading trends in the pair today are expected to be determined by release of data on BRC retail sales monitor in the UK.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
