In forex movements Asian session this morning (30/11, 02:47 GMT), British Pound generally show upward movement against the U.S. dollar after opening at 1.6035 in early trade (00.00 GMT). Britain's currency has gained about 12 pips or + about + 0.07% and at the rolling news was revealed values ​​observed are at 1.6047.

Positive sentiment towards the British Pound rose after reports appeared this morning from GfK NOP Ltd.. showed an increase in the consumption sector the UK in November, and showed the best performance in the last 18 months. Near the end of the year British consumers seem more willing to shop after the third quarter of the country is technically out of the recession.

GfK Consumer Confidence Index is beyond expectations have increased, although still in the negative numbers, to -22 from -30 in October. This result is better than expected number of economists predict will remain stuck in the numbers - 30.

Analyst Research Vibiz of Vibiz Consulting suggests that the normal range of movement of the GBP / USD today are expected to have a support level at around 1.5981 and the resistance level at around 1.6069.

Nevertheless Sterling is still volatile, and still in spite of the potential that can occur daily drop significantly. Sterling still be dragged down by the negative impact on the EU economy, which may indicate more severe symptoms of the crisis. This is related to the possibility of increased levels of unemployment in the EU to 11.7% from 11.6%, where the actual data will be released this afternoon


source:vibiznews