During Thursday trade session British pound recorded upward movement versus US dollar, as an effect of greenbacks continuing weakness versus Japanese yen and other major peers.
GBP/USD reached 1.5187 during early European session, currently highest and also highest since May 21st. Consolidation was observed at 1.5173-1.5177. Support was to be received at current lowest value, 1.5112, while resistance was expected at 1.5250.
US dollar was losing ground versus Japanese yen, as Japanese stocks continued their fall and investors reconsidered positions, boosting demand for Japanese currency.
A series of crucial economic data is expected later today from United States, as potential positive signals could stimulate expectations that FED could be close to scaling back its asset purchases from the current 85-billion-dollar-a-month level.
British pound was bolstered by data, regarding Nationwide House Prices indicator in United Kingdom, as the latter indicated a 0.4% rise during May on a monthly basis, mismatching projections for a 0.5% rise, but improving in comparison to previous period change. In annual terms, Nationwide House Prices indicator registered a 1.1% rise during May, exceeding expectations for a 0.9% increase and preceding period change rate. Average house price in UK was 197 912 GBP (253 803 USD) during May, which was the highest value since July 2011 (168 731 GBP).
Meanwhile, EUR/GBP pair lost 0.03%, dropping to 0.8549.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
