GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.43% against the USD and closed at 1.6231.
In the UK, the Confederation of British Industry’s (CBI) monthly survey for May indicated that 22.0% of the manufacturers described total order books as above normal, while 24.0% stated that they were below normal. The resulting balance of -2.0% for May is an improvement on the previous month’s balance of -11.0%. Additionally, the retail sales rose by 1.1% (M-o-M) in April, following a revised 0.3% rise recorded in March.
The pair opened the Asian session at 1.6231, and is trading at 1.6229 at 3.00GMT. The pair is trading flat from the New York session close.
The pair has its first short term resistance at 1.6273, followed by the next resistance at 1.6317. The first support is at 1.6155, with the subsequent support at 1.6081.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages
