The Pound rose against the Euro and weakened slightly versus the Dollar despite a report that showed U.K. house prices climbed to the highest in almost two years fueling optimism the economic recovery is solidifying. The GBP/USD has been trading upwards since last week but couldn't break the resistance at 1.48 and has started declining since then. The main support is located at 1.4550 if the price drops below this levels a short position is preferred. Overall, GBP/USD traded with a low of 1.4586 and with a high of 1.4742. Today, Halifax HPI is expected to rise from -0.1% to 0.3%.

 GBP/USD - Last: 1.4634

Resistance

1.4675

1.4745

Support

1.4560

1.4440

1.44

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