GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 1.15% against the USD and closed at 1.6191, amid poor UK job data.
The number of people claiming jobseeker’s allowance in the UK rose by 19,600 to 1.49 million in May. Meanwhile, the total pay including bonuses climbed 1.8% in the three months to April, following a 2.4% rise recorded in the three months ended March. The unemployment rate stood at 7.7% in April.
The pair opened the Asian session at 1.6191, and is trading at 1.6205 at 3.00GMT. The pair is trading 0.09% higher from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6333, followed by the next resistance at 1.6460. The first support is at 1.6123, with the subsequent support at 1.6040.
Trading trends in the pair today are expected to be determined by data release on retail sales in the UK.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
