Yohay

[B]The British Pound got some great news, managed to climb. While [/B][URL="http://www.forexcrunch.com/category/forex-weekly-outlook/gbp-usd-outlook/"][B]GBP/USD[/B][/URL][B] stopped at a resistance line, GBP/JPY managed to break higher. Update on both pairs.[/B]
British Nationwide HPI rose by 0.7%, significantly higher than the early expectations for a 0.2%. This important house prices index showed that the dip in house prices last month was only temporary. A rise in house prices means that the economy is doing well, and prices continue to rise – this is necessary for a future rate hike. Three additional factors pushed the Pound higher:
The final GDP for Q4 was revised to the upside – a growth rate of 0.4%. GDP was better than earlier reported – 0.3%. Although the growth rate leans heavily on a downwards revision of the figure for Q3, this revision was also positive for the Pound.
Read the rest of the updates on [URL="http://www.forexcrunch.com/pound-rise-stopped-at-resistance/"][I][B]GBP/JPY and GBP/USD[/B][/I][/URL].