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

Forex Pros – The British Pound was higher against the U.S. Dollar on Tuesday after the release of U.S. data on Existing Home Sales.

GBP/USD was trading at 1.6245, up 0.26% at time of writing.

The pair was likely to find support at 1.6079, Thursday’s low, and resistance at 1.6253, Monday’s high.

Earlier in the day, industry data showed that existing home sales fell less-than-expected to a seasonally adjusted annual rate of 4.81M last month from 5.00M in the preceding month whose figure was revised down from 5.05M.

Analysts had expected existing home sales to fall to 4.78M last month.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.46% to hit 0.8869 and GBP/JPY rising 0.16% to hit 130.25.




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