GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.37% against the USD and closed at 1.6068.
In the UK, Gfk consumer confidence steadied at -28 in March, unchanged from the score recorded in the previous month The Confederation of British Industry’s (CBI) latest distributive trades survey resulted in a net balance of 15.0 in March, compared to a balance of 6.0 recorded in February. Additionally, on a monthly basis, the index of service sector activities, rose by 1.3% in January, the fastest growth since July 2002 and following a 1.1% decline in the previous month.
The pair opened the Asian session at 1.6068, and is trading at 1.6092 at 3.00GMT. The pair is trading 0.15% higher from the New York session close.
The pair has its first short term resistance at 1.6145, followed by the next resistance at 1.6197. The first support is at 1.6008, with the subsequent support at 1.5923.
Trading trends in the pair today are expected to be determined by release of data on nationwide housing prices in the UK.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
