GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.27% against the USD and closed at 1.5567.
In the Asian session, at GMT0300, the pair is trading at 1.5584, with the GBP trading 0.11% higher from yesterday’s close.
Data released this morning indicated that the seasonally adjusted Royal Institution of Chartered Surveyors’ (RICS) house price balance in UK rose to 5.0 in May, from 1.0 recorded in the previous month.
The pair is expected to find support at 1.5518, and a fall through could take it to the next support level of 1.5451. The pair is expected to find its first resistance at 1.5627, and a rise through could take it to the next resistance level of 1.5669.
In today’s trading session, British manufacturing and industrial production data is slated for release along with GDP estimate released by the National Institute of Economic and Social Research.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
