GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.34% against the USD and closed at 1.6012.
In the UK, the Halifax house prices rose by 1.2% (M-o-M) in June from 0.4% increase in the previous month. Also during early Asian morning yesterday, the British Retail Consortium (BRC) indicated that the retail prices rose to 2.9% (M-o-M) in June, following a rate of 2.3% recorded in May.
The pair opened the Asian session at 1.6012, and is trading at 1.6007 at 3.00GMT. The pair is trading 0.03% lower from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6083, followed by the next resistance at 1.6158. The first support is at 1.5940, with the subsequent support at 1.5872.
BoE Interest Rate Decision is likely to receive increased market attention, with other UK data due to be released later today.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
