Forex Pros &ndash; The pound erased gains against the U.S. dollar on Thursday, falling from a five-day high after government data showed that new U.S. claims for unemployment benefits fell last week.<br /><br />GBP/USD retreated from 1.6151, the pair&rsquo;s highest since last Friday, to hit 1.6032 during European afternoon trade, shedding 0.25%.<br /><br />Cable was likely to find support at 1.5942, Tuesday&rsquo;s low and resistance at 1.6266, the high of March 24.<br /><br />The Labor Department said initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 388,000. Analysts had expected claims to drop to 380,000.<br /><br />The prior week’s figure was revised up to 394,000 from the previously reported 382,000.<br /><br />Earlier Thursday, the pound moved higher after Nationwide Building Society said U.K. house prices rose unexpectedly for a second consecutive month in March.<br /><br />The pound was also down against the euro, with EUR/GBP rising 0.53% to hit 0.8836.<br /><br />Also Thursday, the Bank of England&rsquo;s quarterly credit conditions survey showed that credit conditions look set to ease slightly in the next three months, with banks keener to offer mortgages, even to borrowers with small deposits.<br /><br /><br />

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