GBP/USD almost unchanged today

May 27, 2013 12:35 pm

5550-currencies UK pound US dollar GT83383475 During Monday’s thin trade GBP/USD remained almost without change, as UK and US markets were closed for holidays.

The pair reached 1.5159 during late European session, highest value for today, after which consolidation followed at 1.5122. The cross was to find support at 1.5062, lowest from last Friday, while resistance levels were expected at May 22nd highest value, 1.5172.

Investors still showed caution about whether a reduction of scale of FED easing program was on the horizon this year.

Additionally, in United Kingdom, it was reported earlier that house prices rose at the fastest pace in 6 years during May. Hometrack, a property researcher in London, announced that average house prices rose by 0.4% in England and Wales, the biggest rise on a monthly basis since May 2007. Increased prices were supported by credit easing policy by Bank of England and property shortage in London.

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