GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.10% against the USD and closed at 1.6270.
In the UK, the number of people claiming jobseeker’s allowance unexpectedly rose by 700 in March. The jobless rate unexpectedly declined to 7.8% for the quarter ended February. The Nationwide consumer confidence index rose to 44.0 in March from a revised figure of 39.0 in February.
The pair opened the Asian session at 1.6270, and is trading at 1.6285 at 3.00GMT. The pair is trading 0.09% higher from the New York session close.
The pair has its first short term resistance at 1.6319, followed by the next resistance at 1.6354. The first support is at 1.6241, with the subsequent support at 1.6198.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
