01, May 2013

GBP/USD (a 4-hour chart)

GBP/USD (a 4-hour chart)

A sharp throw of the GDP is ended with the correction. The growth begins to fade at the resistance level 1.56.

While the British pound is still being traded higher against the U.S. dollar, the currency ended the day much closer to its intraday low points than the maximum.

Lloyds Business Barometer index and Hometrack Sruvey sale of the house were two third level economic reports in the UK calendar yesterday.

According to these reports, the business has grown more optimistic in March and deals with housing has increased.

More specifically, the housing market in London was in a strong demand and grew for an average 4.6 %. This news helped GBP/USD, but the real test will be on reports PMI, which will show how strong is an economic growth in the first quarter. Consumer confidence will be released along with the pure consumer loans, and the number of mortgage approvals.