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

Forex Pros – pros - The British Pound was higher against the U.S. Dollar on Wednesday after the release of U.S. data on Pending Home Sales.

GBP/USD was trading at 1.6063, up 0.40% at time of writing.

The pair was likely to find support at 1.5913, Tuesday’s low, and resistance at 1.6074, today’s high.

Earlier in the day, industry data showed that Pending home sales in the U.S. rose more-than-expected to a seasonally adjusted 8.2% last month from -11.3% in the preceding month whose figure was revised up from -11.6%.

Analysts had expected Pending home sales to rise to 2.4% last month.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.02% to hit 0.8984 and GBP/JPY rising 0.04% to hit 129.85.

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