GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.86% against the USD and closed at 1.6363.
In the UK, the RICS home price index declined to -28.0 in May compared to a reading of -21.0 in April.
The pair opened the Asian session at 1.6363, and is trading at 1.6401 at 3.00GMT. The pair is trading 0.23% higher from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6473, followed by the next resistance at 1.6544. The first support is at 1.6274, with the subsequent support at 1.6146.
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 trading above its 20 Hr and its 50 Hr moving averages.
