GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.07% against the USD and closed at 1.6153.
In the US, the retail sales rose by 0.1% (M-o-M) in June to $387.8 billion compared to a 0.1% decline in the previous month. Additionally, the Producer Price Index declined by 0.4% (M-o-M) in June, following a 0.2% increase the previous month.
The pair opened the Asian session at 1.6153, and is trading at 1.616 at 3.00GMT. The pair is trading 0.04% higher from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6193, followed by the next resistance at 1.6226. The first support is at 1.6111, with the subsequent support at 1.6062.
The currency pair is trading just above its 20 Hr moving average and its 50 Hr moving average.
