GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.43% against the USD, on Friday, and closed at 1.6432.
In the UK, the money supply, on monthly basis, decreased 0.5% in June, following a 0.1% gain in the previous three months. The consumer credit rose to £0.4 billion in June, from £0.3 billion in the previous month. The number of loan approvals for house purchase increased to 48,421 in June, from 46,418 in May.
The pair opened the Asian session at 1.6421, and is trading at 1.6443 at 3.00GMT. The pair is trading 0.07% higher from Friday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6527, followed by the next resistance at 1.6611. The first support is at 1.6308, with the subsequent support at 1.6173.
Trading trends in the pair today are expected to be determined by manufacturing purchasing manager index in the UK.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
