GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.52% against the USD and closed at 1.6366 on Friday.
In the UK, the Gross Domestic Product (GDP), on quarterly basis, rose 0.2% in the second quarter of 2011, compared to 0.5% growth in the previous quarter. The index of services rose 0.5% for three months ended June, compared to 1.2% rise in May. Additionally, this morning, the house prices declined 0.1% (M-o-M) in August, following the same decline in the previous month.
The pair opened the Asian session at 1.6348, and is trading at 1.6372 at 3.00GMT. GBP is trading marginally higher versus USD from Friday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6432, followed by the next resistance at 1.6493. The first support is at 1.6258, with the subsequent support at 1.6145.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
