GBP/USD Moves Higher

GBP/USD is trading at 1.5430 up 0.0047. Chatter about Greece continues and some talk that the U.K. is favored against other countries currencies has led to higher trading against the U.S. Dollar. Worse than expected existing homes sales in the U.S. has supported the pair. Worse than expected data out of the U.K has had little to no impact on the pair for now. It may show up market talk later if the U.K data worsens. Retail sales in the U.K. according to a CBI survey were less than expected. CBI is a the business lobby group, the group said prices fell for the first time since May 2006 and that grocers and department stores showed poor performance.