GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP rose 0.97% against the USD and closed at 1.6318, on strong UK retail sales data.
In the UK, the retail sales rose by 0.7% (M-o-M) in June following a 1.3% decline in the previous month. Additionally, the public sector net borrowing (PSNB), excluding financial interventions declined to £13.98 billion in June, from £16.62 billion recorded in May.
The pair opened the Asian session at 1.6318, and is trading at 1.6309 at 3.00GMT. The pair is trading 0.06% lower from yesterday’s close at 23:00 GMT.
The pair has its first short term resistance at 1.6394, followed by the next resistance at 1.6478. The first support is at 1.6173, with the subsequent support at 1.6036.
The currency pair is trading just above its 20 Hr moving average and its 50 Hr moving average.
