GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.17% against the USD and closed at 1.6340.
In the UK, retail sales values declined by 3.5% (M-o-M) in March on a like-for-like basis after a decline of 0.4% in the previous month. Meanwhile, the Royal Institute of Chartered Surveyors (RICS), an index measuring the average price of a home in the UK stood at a score of -23 in March, compared to a reading of -26 posted in the previous month.
The pair opened the Asian session at 1.6340, and is trading at 1.6287 at 3.00GMT. The pair is trading 0.32% lower from the New York session close.
The pair has its first short term resistance at 1.6384, followed by the next resistance at 1.6480. The first support is at 1.6234, with the subsequent support at 1.6180.
With a series of UK economic releases today, including nationwide consumer Confidence and Retail Price Index, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading just below its 20 Hr and its 50 Hr moving averages.
