Forex - GBP/USD up during the U.S. session

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Forex Pros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.S. data on Personal Spending.


GBP/USD was trading at 1.6480, up 0.45% at time of writing.


The pair was likely to find support at 1.6060, Monday’s low, and resistance at 1.6509, today’s high.


Earlier in the day, official data showed that U.S. personal spending rose less-than-expected to a seasonally adjusted 0.4% last month from 0.5% in the preceding month whose figure was revised down from 0.6%.


Analysts had expected personal spending to rise 0.5% last month.


Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.60% to hit 0.8674 and GBP/JPY falling 0.03% to hit 133.31.





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