GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.19% against the USD and closed at 1.6161, amid poor UK jobs and retail sales data, adding further weight to calls for the Bank of England to keep interest rates on hold.
In the UK, the retail sales, on monthly basis, declined by 1.4% in May following a 1.6% growth in April.
The pair opened the Asian session at 1.6161, and is trading at 1.6128 at 3.00GMT. The pair is trading 0.20% lower from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6210, followed by the next resistance at 1.6291. The first support is at 1.6063, with the subsequent support at 1.5997.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
