GBPUSD Movement
For the 24 hours to 23:00 GMT, GBP fell 0.13% against the USD and closed at 1.6653. The greenback advanced, as investors weighed news of Al Qaeda leader, Osama bin Laden’s death as backdrop of expectations that the Federal Reserve would continue its easy monetary policy.
In the UK, on Sunday, the average asking price for a home declined by 3.3% (Y-o-Y) in April to £153,100, compared to the 3.2% contraction recorded in the previous month.
The pair opened the Asian session at 1.6653, and is trading at 1.6606 at 3.00GMT. The pair is trading 0.28% lower from the New York session close.
The pair has its first short term resistance at 1.6691, followed by the next resistance at 1.6777. The first support is at 1.6551, with the subsequent support at 1.6497.
Trading trends in the pair today are expected to be determined by release of PMI manufacturing data in the UK.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
