Forex Pros &ndash; The pound rose to a five-day high against the U.S. dollar on Thursday, after a report showed house prices in the U.K. unexpectedly increased in March, bolstering the case for the Bank of England to tighten monetary policy.<br /><br />GBP/USD hit 1.6151 during European morning trade, the pair&rsquo;s highest since March 24; the pair subsequently consolidated at 1.6137, gaining 0.40%.<br /><br />Cable was likely to find support at 1.5978, Wednesday&rsquo;s low and resistance at 1.6266, the high of March 24.<br /><br />Earlier in the day, Nationwide Building Society said house prices rose unexpectedly for a second consecutive month in March but the pick-up was unlikely to mark the start of a strong upturn.<br /><br />House prices rose 0.5% in March, confounding expectations for a fall of 0.1%. February’s reading was also revised upwards to show a gain of 0.7% from 0.3% previously.<br /><br />”The outlook remains uncertain, but all things considered, this is unlikely to mark the beginning of a strong upturn in prices,” said Robert Gardner, Nationwide’s chief economist.<br /><br />Meanwhile, the pound was down against the euro, with EUR/GBP rising 0.28% to hit 0.8814.<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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